MELBOURNE, FEBRUARY 19, 2019: Hemideina, a hearing solutions company focussed on the development and commmericalisation of the Hera Wireless Implant, announced today that it successfully raised a Series A investment of $1 million in their first round of equity financing.
The financing will enable Hemideina’s continued research and development of the Hera Wireless Implant in preparation for clinical testing, market development activities and the broadening of the company’s IP portfolio.
Dr Elizabeth Williams, CEO and Co-Founder of Hemideina said: “Our pioneering innovation will significantly disrupt the global hearing implant market by removing current technical barriers to miniaturisation, battery life and sound quality. We’re excited to have investment partners on board that bring global experience in medical devices, strategy and commercialisation to help us achieve our mission. This support will help accelerate our vision of bringing novel technologies to the hearing impaired to vastly improve their lives.”
Dr Kate Lomas, Co-Founder and Chief Technology Officer, invented the Hemideina technology, having taken inspiration from insect hearing. Kate holds a PhD in Biology from Auckland University. Her research has focused on the investigation of insect hearing systems leading to the development of new acoustic technology that will transform hearing implants and the quality of life for the profoundly deaf.
Andrew Maxwell, Managing Director of Chatsworth Associates, will join Hemideina’s Board of Directors as Chairman. He said: “I am excited to be supporting the team with this ground- breaking, Melbourne-based technology. Hemideina has developed unique intellectual property that will challenge the incumbent 40-year old approach to hearing solutions for the profoundly deaf. The global hearing implant market is a large and attractive one, that is currently dominated by Cochlear, Sonova and Med-El.” Mr Maxwell said.
Hemideina also welcomes Dr. Anna Lavelle to the Board as a Non-Executive Director. Dr. Lavelle provides over 25 years’ experience in healthcare delivery, technology development and industry policy for not-for-profit, for profit and government entities. Dr. Lavelle was recently awarded the Johnson and Johnson/AusBiotech “Industry Leader of the Year” and is recognised as one of the global top 100 “World Visionaries” in biotechnology.
Founded in 2017 with a mission to revolutionise hearing for the profoundly deaf, Hemideina takes inspiration form biological systems to deliver solutions in human hearing. Hemideina’s Hera Wireless Implant is based on the company’s proprietary signal processing technology and is set to disrupt the hearing implant market worth $1.8bn.
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For more information, please visit www.hemideina.com.