What is Element Science?
Element Science is dedicated to transforming cardiac health through innovative wearable technology. Their flagship product, the Jewel Patch, is a wearable cardioverter defibrillator designed to offer continuous protection against sudden cardiac arrest. By targeting high-risk patients and increasing awareness with FDA-approved solutions, Element Science aims to make a substantial impact in the med tech industry. The company's commitment to saving lives is a core tenet of its operations, fostering an environment where innovation in medical devices can flourish.
How much funding has Element Science raised?
Element Science has raised a total of $263.4M across 4 funding rounds:
Series A
$12.5M
Private Equity
$25M
Series B
$80.3M
Series C
$145.6M
Series A (2014): $12.5M with participation from Third Rock Ventures, Prospect Venture Partners, and GV
Private Equity (2016): $25M, investors not publicly disclosed
Series B (2020): $80.3M supported by JS Capital LLC, Venrock, Foresite Capital, and Fidelity Management & Research Company
Series C (2020): $145.6M featuring Cormorant Asset Management, Google Ventures, Third Rock Ventures, Qiming Venture Partners USA, Invus Opportunities, and Deerfield Healthcare
Key Investors in Element Science
Cormorant Asset Management
Founded in 2013, Cormorant Asset Management is a prominent life sciences investment firm with over $3B of assets under management. Cormorant is driven by a deep focus on fundamental scientific principles and provides financial resources to support the most innovative and promising publicly traded and private companies in biotech and allied sectors.
Google Ventures
GV is a venture capital firm founded in 2001 that invests across multiple stages and sectors. The company focuses on enterprise solutions, life sciences, consumer products, and frontier technology innovations. GV operates globally with presence across North America, Europe, Asia, and South America, providing financial backing to promising startups and growth-stage businesses.
Third Rock Ventures
Founded in 2007, Third Rock Ventures is a healthcare venture firm focused on disruptive areas of science and medicine to discover, launch and build companies that make a dramatic difference in people's lives. By combining their teams scientific vision, strategic leadership, operational expertise and innovative deal-making capabilities, they nurture bold ideas that translate into successful business enterprises.
What's next for Element Science?
The recent major strategic investment signals a pivotal growth phase for Element Science. This influx of capital is expected to accelerate the company's product development, expand its market reach, and further its clinical trial initiatives. With a clear focus on scaling its operations and enhancing its life-saving technology, Element Science is poised to solidify its position in the competitive med tech landscape. Future endeavors will likely involve broader patient adoption of the Jewel Patch and continued innovation in cardiac monitoring and intervention.
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