Sibel Health secures $30M, seventh FDA clearance

Patient monitoring company Sibel Health, a spin-out of Northwestern University, closed a $30 million Series C equity financing round and received its seventh FDA clearance. 

Steele Foundation for Hope led the round with participation by Dräger. Both organizations have been existing investors in the company.

WHAT IT DOES

Chicago-based Sibel Health’s FDA-cleared ANNE One platform contains advanced wearable sensors, AI-enabled data analytics, and an integrated mobile software and cloud platform. It also offers wireless monitoring of patients’ vital signs and can be used for patients 12 years and older. 

The ANNE One platform allows for this vital sign monitoring via a clinical-grade wearable in two parts: the Anne Limb, which measures skin and body temperature, and the Anne Chest, which monitors heart and respiratory rates, step count, fall count and skin temperature. 

The company says the financing is timely, with its newest FDA 510(k) clearance “enabling alarms and alerts along with a powerful central station.” 

Sibel will use the funds to speed up the commercial deployment of its ANNE One monitoring platform. 

“There are almost one million hospital beds in the U.S. The majority of them are not monitored continuously. Many people are surprised to know that the majority of patient deaths happen outside of the ICU – something unexpected in an unmonitored bed,” Dr. Steve Xu, cofounder and CEO of Sibel Health, told MobiHealthNews.

“This new Series C will accelerate Sibel’s commercial expansion of our medical wearables in the U.S. and Europe so we can bring continuous vitals to every hospital bed while also reducing nursing burden.”

MARKET SNAPSHOT

In December, Sibel Health announced the capital region of Denmark chose it for a long-term partnership in conjunction with Dräger, a medical safety technology company and one of its existing investors. The pair will deploy advanced continuous monitoring in the hospital setting.

Dräger previously led the company’s Series A funding round, contributing $10 million.

In 2023, Sibel released its physiological monitoring platform for clinical trial use dubbed Discovery and announced a partnership with AI-powered clinical trial solutions company Medidata. 

The company also received FDA 510(k) clearance for its ANNE One platform continuous neonate and vital sign monitoring of infants born at any gestational age up to 2 years old.

In 2022, Sibel raised $33 million in a Series B funding round led by the Steele Foundation for Hope.