Gilde Healthcare III makes first investment in Inova Labs
Utrecht, the Netherlands | Cambridge, USA – Gilde Healthcare Partners announced today its first investment via Gilde Healthcare III in Inova Labs (Austin, TX). Inova Labs, a privately held medical device company focused on developing innovative products for the Chronic Obstructive Pulmonary Disease (COPD) market, has secured a Series B round of equity financing for up to $17.5M from an international investment syndicate. The company plans to use the capital to expand its commercial launch of the LifeChoice® Portable Oxygen Concentrator System and to bring its next generation devices to market.
The financing agreement includes new investments from Gilde Healthcare Partners and Latterell Venture Partners and participation from existing investor, Three Arch Partners. Geoff Pardo of Gilde Healthcare Partners will join the board of directors at Inova Labs.
About Inova Labs
Inova Labs is an Austin, Texas-based medical device company that develops and commercializes innovative products for the COPD market. The company is currently marketing the LifeChoice® Portable Oxygen Concentrator System, which is the lightest and smallest oxygen concentrator on the market with FDA approval for continuous use by patients. LifeChoice® delivers oxygen to the COPD patient using a proprietary “Pulse Wave” technology, which insures that the patient receives maximum benefit from the oxygen produced. LifeChoice® also offers “Auto Mode” technology which enables the patient to automatically receive the prescribed oxygen dose during periods of activity as well as sleep. The product is approved by the FAA for air travel and is manufactured under strict ISO certification guidelines. See website www.lifechoiceoxygen.com.
About Gilde Healthcare Partners
Netherlands-based Gilde Healthcare Partners is a transatlantic venture and growth capital firm focused on private healthcare technologies and services. It has over €450 million under management and is actively looking to lead new investments in therapeutics, diagnostics, medical devices and services. Gilde successfully builds healthcare businesses across Europe and US, investing up to €15 million in a single portfolio company. By investing in companies with clear, achievable business models, Gilde has used its financial resources and network to create significant value for both its investors and the entrepreneurs it backs. For a list of Gilde’s portfolio companies please visit the website at www.gildehealthcare.com.