March 04, 2015 3:33 AM ET

Healthcare Equipment and Supplies

Company Overview of Seventh Sense Biosystems, Inc.

Company Overview

Seventh Sense Biosystems, Inc. engages in developing blood sampling technology for decentralized diagnostic testing. It offers Touch Activated Phlebotomy, a device that enables users to draw blood through a painless one-step process. The company was founded in 2008 and is based in Cambridge, Massachusetts.

286 Cardinal Medeiros Avenue

Cambridge, MA 02141

United States

Founded in 2008

Phone:

617-547-7246

Fax:

617-547-0770

Key Executives for Seventh Sense Biosystems, Inc.

Chief Executive Officer, President and Member of The Board of Directors
Co-Founder, Scientific Advisor and Director
Co-Founder, Scientific Advisor and Director
Age: 66
Co-Founder and Scientific Advisor
Co-Founder and Scientific Advisor
Compensation as of Fiscal Year 2014.

Seventh Sense Biosystems, Inc. Key Developments

Seventh Sense Biosystems Announces Initiation of Registration Trial for Painless TAP(TM) Blood Collection Device

Seventh Sense Biosystems, Inc. announced that it has initiated a registration trial for its painless TAP(TM) (Touch Activated Phlebotomy) blood collection device. The company expects to file for marketing authorization in the United States and in the European Union in the second quarter, and anticipates receiving its E.U. CE Mark and U.S. regulatory approval later 2013. The company's propriety TAP Blood Collection device is designed to address deficiencies in the current blood collection process, including patient anxiety that can negatively impact compliance with prescribed testing. The TAP platform is expected to offer greater efficiency over existing blood collection methods by providing a faster pathway to diagnostic results, while also increasing safety and eliminating pain.

Seventh Sense Biosystems, Inc. Gets $1.9 Million in Debt Financing

Cambridge medical device startup Seventh Sense Biosystems has taken in $1.9 million in debt financing. According to the company, the money came from five investors but did not name them. However, related persons on the filing are President and CEO Howard Weisman; Chief Scientific Officer Howard Bernstein and CFO Harry Wilcox, as well as directors R. Rox Anderson, co-founder and professor of dermatology at Massachusetts General Hospital and Harvard Medical School; Alan Crane, general partner at Polaris Venture Partners; Peter Hutt, senior counsel at Covington & Burling LLP; and Robert Langer, co-founder and professor at MIT. The debt financing brings the total of Seventh Sense's debt and equity funding since it was founded in 2008 to $29.5 million. The most recent previous round was a $10 million Series A round from existing investors Polaris Venture Partners of Waltham and Flagship Ventures of Cambridge. The company announced that the $10 million round was to be used to complete clinical testing and commercialize the company's first blood collection device, known as the Touch Activated Phlebotomy system. The company at the time expects to start the trial in early 2013, and to seek U.S. regulatory approval in mid-2013.

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