Injectpower Closes €6.5M Funding Round for Medical Microbatteries
Company Targets Major Manufacturing Capacity in Grenoble
GRENOBLE, October 16, 2023 -- Injectpower, a developer of ultra-miniature rechargeable batteries for medical devices, today announced it has closed a round of €6.5 million from private and commercial investors that include the IDEC Group, business angels from French Silicon Valley as well as Bpifrance and banking partners.
The company, founded in 2020 based on 20 years of technology development at government research center CEA and more than 40 patents, aims to catalyze the energy storage market for medical implants. The company’s solid-state lithium-ion technology enables customization of rechargeable microbatteries as thin as a human hair. The batteries are safe and among the smallest and most integrated on the market today.
With energy densities 5 to 10 times greater than current commercial capability, the microbatteries offer high reliability and a lifetime of several thousands of cycles. The microbattery solutions are designed to accelerate the emergence of a new class of autonomous medical devices that will provide greater therapeutic efficiency, better treatment outcomes, and improved quality of patient life.
The first components have been developed, characterized and tested on a pre-commercial 200mm microelectronic supply chain with support from CEA/LETI, for Injectpower’s first American medtech partner Injectsense. Injectsense develops implantable pressure measuring systems for glaucoma monitoring and for neurosurgery. Injectsense is funded by several strategic medical device partners. Its glaucoma solution that integrates the microbattery received a Breakthrough Device Designation from the U.S. FDA. First-in-human studies will begin this year and additional studies will be ramped up in 2024.
Other applications are being developed for cardiology, with new energy storage solutions for this domain slated for testing at the end of 2024.
According to California-based Coherent Market Insights, the global market for medical implants was US$102.52 billion in 2022 and is expected to reach US$178.79 billion by 2030, a CAGR of 7.2 %. Growth has been powered by the need for sensors that can continuously measure physiological indicators of key diseases in order to better manage therapy. These devices require rechargeable microbatteries that can last for years.
Injectpower will embark on a major manufacturing effort in Grenoble, France, where it will build a proprietary 200mm MEMS fab to produce all of its microbatteries by 2026.
“We are convinced that the Injectpower solution is a game-changer in energy storage for medical applications,” said Patrice Lafargue, Président of the IDEC Group, the leading investor in INJECTPOWER through its investment fund Groupe Idec Invest Innovation, and a major player in the pharmaceutical and cosmetics sector through its subsidiary Idec Health. “Their vision addresses a true gap in this sector. We want to help the company to ready its product line and support them as they deploy this commercial tool in France.”
“Injectpower solutions offer energy performance, integration and miniaturization that is far superior to all the numerous battery solutions on the market that we have been able to test,” said Ariel Cao, President of Injectsense, a customer of the company. “It is a truly transformational technology for the field of implantable devices and it’s the key to all our applications. Our customers have been asking for exactly this kind of solution.”
“We have a unique and efficient technology, the first products, the first concrete and proven applications,” said Philippe Andreucci, co-founder and CEO of Injectpower. “We are absolutely committed to setting up a validated production chain for medical applications. With its partners, Injectpower aims to create a true center of global excellence in silicon medical devices in the Grenoble region, integrating energy at the heart of the solutions.”
Injectpower is a developer and manufacturer of ultra-miniature batteries designed to power smart implantable devices that function autonomously. The company's wirelessly rechargeable solid-state microbatteries are designed for decades of operation, high energy density, and for a growing range of applications including sensing of physiological parameters and actuation. More information can be found at www.injectpwr.com.
ABOUT IDEC GROUP
A major player in the real estate sector, bringing together more than twenty companies with expertise in their fields, the IDEC GROUP operates in France and abroad to plan, develop, finance and supply innovative energy solutions, as well as to design and build all types of buildings. It is positioned as a responsible player in the energy transition and in limiting the artificialization of land. The company works with local authorities on each new project to revitalize local areas by creating new living and working spaces. This commitment translates into a determination to contribute to the green growth of cities, businesses and individuals, while meeting the challenges of sustainable, coherent and pragmatic economic development.
- 2000 Year of creation
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