Faurecia Ventures Investment Pushes TactoTek Funding Over 20 Million USD Mark

Automotive interiors giant takes equity position in in-mold structural electronics (IMSE) leader

OULU, FINLAND (21 February 2017) – TactoTek, a leader in injection molded structural electronics (IMSE) solutions, today announced that its funding has grown to over 20 million USD. Faurecia Ventures, the investment organization of the global market leader in automotive industry, joined other TactoTek investors in December, 2016. 

“Faurecia’s automotive interiors market leadership reflects their ability to deliver innovative solutions to market; when combined with TactoTek’s IMSE expertise, it’s an opportunity to re-think and revolutionize how and where electronic functions are deployed in vehicles, and the forms that they take.” stated Jussi Harvela, CEO of TactoTek, “We are very enthusiastic about our relationship with Faurecia and the shared vision of market transformation on which it is founded.”

TactoTek is emphasizing automotive and home appliance markets, each of which represents a multi-billion-dollar annual opportunity. Because IMSE technology is horizontal in nature, its reach extends to markets as diverse as wearable technology, medical devices and industrial controls, and the company has active projects in each of these arenas.

Eric de La Gironnière, President of Faurecia Ventures, observed, “We are very pleased to partner with TactoTek. Their innovative process perfectly fits in our “smart life on board” strategy to integrate breakthrough HMI technology solutions which will play a key role in the cockpit of the future and will create a new on-board connectivity experience.”

TactoTek partners with OEMs and their suppliers to implement customer concepts in IMSE designs, and readies those parts for mass production using agile product development processes. TactoTek licenses manufacturing to third parties and does selected mass production.

Faurecia is one of the world’s largest automotive equipment suppliers, with three key Business Groups: Seating, Interiors and Clean Mobility. In 2016, the Group posted total sales of €18.7 billion. Faurecia employs 100,000 people in 34 countries at 300 sites and 30 R&D centers.

About TactoTek

TactoTek is a leading provider of solutions for Injection Molded Structural Electronics (IMSE) that integrate printed circuitry and electronic components into 3D injection molded plastics. Leading use cases include in-vehicle applications, home/industrial appliances, and wearable technology. TactoTek adapts customer designs to IMSE technology, develops mass production ready prototypes, and mass produces or licenses the technology for 3rd party mass production. TactoTek is funded by Conor Venture Partners, Faurecia Ventures, VTT Ventures, Leaguer VC, private angels, TEKES, and European Union’s Horizon 2020 Research and Innovation Programme. For more information, please visit www.tactotek.com.

Additional information
Antti Sinisalo, CEO
VTT Ventures Ltd.
Tel. +358 20 722 4772
Email antti.sinisalo@vtt.fi www.ventures.fi

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Finnish biopharmaceutical company Desentum closes financial round totalling nearly EUR 2 Million

Desentum, a company developing novel allergen immunotherapy – aka allergy vaccine – secured funding to advance their treatment targeting birch pollen allergy.

ESPOO, Finland, 23 January 2017– Today, Desentum, a biopharmaceutical company developing next generation immunotherapy to fight allergies, announced that it has completed a Series A financing round totalling approximately EUR 2 Million. The participating investors include Belgian Cascara Ventures, Luxembourgian ACME Investments, Finnish VTT Ventures and Sto-Rahoitus, and the founding shareholders.

Desentum will use most of the raised capital to produce the most prominent birch pollen hypoallergen under GMP conditions and to prepare for preclinical and clinical trials. The company will also focus on advancing the preclinical research of other respiratory allergens (pollens, animal dander) and developing them into vaccines, as well as securing key intellectual property.

“For the past ten years, the research groups of VTT Technical Research Centre of Finland, University of Eastern Finland and Desentum have collaborated to develop a completely new type of immunotherapy for treating patients suffering from allergies. The therapy is based on using DNA techniques to modify known allergens into so called hypoallergens. The hypoallergens are expected to initiate immunological mechanisms that will protect from allergy. This model has shown excellent results in laboratory tests. If the hypoallergens prove functional in clinical trials as well, we will have a real opportunity to shorten the time needed for allergen immunotherapy and improve the safety of the treatment. The capital raised now will help Desentum to move forward towards first stage clinical trials”, says Pekka Mattila, CEO of Desentum.

Immunotherapy in allergy treatment
 
Allergy is a disorder of the immune system where a normally harmless environmental substance – such as food, pollen or animal dander – causes an allergic reaction. In Europe, 150 million people already suffer from allergies and the number is increasing rapidly. Allergies cause social and economic burden such as health care costs, missed school and work days and impact on the daily lives of the patients.

Allergies are generally managed by medication that alleviates the symptoms. The most common medications are antihistamines and corticosteroids. Immunotherapy is the only treatment currently known that affects the mechanism of allergy. It re-educates the immune system to tolerate the allergen, decreasing the need for medication. Immunotherapy can be administered as injections or sublingual tablets or drops, and the treatment usually takes a few years. The novel immunotherapeutic products that are under development aim for speeding up the treatment as well as improving the safety, efficacy and convenience.

About Desentum Ltd: Desentum is a biopharmaceutical company based in Espoo, Finland. It is specialized in developing a novel type of allergen immunotherapy based on switching the immune system’s response to allergens from hypersensitivity to tolerance by utilizing modified hypoallergens. Desentum, founded in 2011, is a spin-off company from VTT Technical Research Centre of Finland Ltd. In 2013 VTT received an EARTO Innovation Prize for the work behind the immunotherapeutic products.

Additional information:
Antti Sinisalo, CEO
VTT Ventures Ltd.
Tel. +358 20 722 4772
Mobile +358 40 524 8751
Email antti.sinisalo@vtt.fi
www.ventures.fi

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Heptagon teams up with Spectral Engines and GreenTropism to Deliver Complete Spectrometer Solution for Consumer and Industrial Applications

SANTA CLARA, Calif.–(BUSINESS WIRE)–Heptagon (www.hptg.com) announced the company’s new Smart Handheld Spectrometer solution, the first in Heptagon’s family of Smart Spectral Solutions targeting both demanding industrial uses as well as consumer applications. The solution reliably detects and analyzes common organic materials such as foods, fabrics and materials, agriculture, environment, medicine and pharmaceuticals, cosmetics and petrochemicals, and more. The solution goes beyond where human senses leave off to deliver information that can help ensure safety, increase quality, and improve health and well-being. Position the product against any material, call up the smart application on an iOS or Android handheld device, and press start to test the desired object. An infrared reflection spectrum is acquired, sent to the cloud database for analysis, and the results are nearly instantaneously displayed back to the phone or tablet, leveraging Simblee.

“Heptagon has been leading mobile optical component innovation for many years,” says Dr. Peter Roentgen, Manager of Advanced Research at Heptagon. “We have identified spectrometry as a new technology that may eventually enable a new wave of innovation in mobile phones. This handheld spectrometer is the precursor to a highly miniaturized consumer model currently under development.”

Today, there are already many potential commercial applications for spectrometry. Heptagon’s RF Digital Corporation collaborated with Spectral Engines and GreenTropism to realize Heptagon’s Handheld Spectrometer. Spectral Engines provides the integral light source and sensor for infrared spectroscopy. GreenTropism provides the industry-proven material knowledgebase and algorithms for identifying material and composition. RF Digital turned these technologies into the first RFduino footprint plug & play spectrometry building block – expanding the Simblee ecosystem of sensors – and created the handheld product: from system engineering, industrial design, electrical engineering design, mobile and cloud to product manufacturing.

“Commercializing the emerging field of spectroscopy today requires an expandable platform in order to add new materials in the future, as well as ultra-low-latency interactions with the cloud,” says Armen Kazanchian, Founder and President of RF Digital. “Simblee enables 3ms latency, an expandable and modular user interface, and agile development of IOT products, leading to the realization of the Smart Handheld Spectrometer which is prepared for future materials, in a record time.”

About GreenTropism

GreenTropism (www.GreenTropism.com) is an innovative company specialized in embedded software in the field of mass market and industrial spectroscopy. The company brings industry professionals easy-to-use, predictive and accurate data analysis algorithms that instantaneously analyzes the organic matter, providing precise results to drive any application or command control system.

About Spectral Engines

Spectral Engines Oy (www.SpectralEngines.com) is a high-tech company set to revolutionize spectral sensing by offering spectrometer performance at sensor price point. Our sensors will open new opportunities in the fields such as process spectroscopy, agriculture, food & beverage and gas sensing.

About RF Digital

RF Digital (www.rfdigital.com) designs and manufactures an extensive line of fully integrated, high quality, high performance, configurable Wireless RF Transmitter, Receiver & Transceiver Modules, suitable for nearly every type of application. For over 17 years RF Digital has supplied the aerospace, public safety, industrial and medical industries with reliable wireless modules, accompanied by excellent support. For more information about Simblee, visit www.simblee.com.

About Heptagon

Heptagon (www.hptg.com) provides complete, simple and seamless 3D imaging, illumination, sensing, and connectivity solutions powering the Interface of Things™ and Mobile Innovation. We enable new and unique ways for people to interact and interface with a smart connected world. With over 2 billion units shipped and 20 years of industry firsts in miniaturizing and integrating complex optical, mechanical, electrical, wireless and software systems, Heptagon has industry leading technology and services to enhance our customer’s competitiveness. Backed by world-class investors, Heptagon is a global company with research and development, sales and customer services teams located in Singapore, Switzerland, Silicon Valley and Hermosa Beach USA, Taiwan and China.

Additional information
Spectral Engines
Uula Kantojärvi
CTO
+358 40 738 5084
uula.kantojarvi@spectralengines.com

 

 

 

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