IRVINE, Calif.--(BUSINESS WIRE)--Swift Health Systems, Inc., makers of INBRACE®, today announced the company has raised $45MM in series C funding to help bolster commercialization of INBRACE. Financing was co-led by Vivo Capital, Novo Holdings and venBio Partners and brings the total capital raised by the company to more than $70MM. Series C funds will be directed at broadening commercial availability of the innovative INBRACE solution through expanded orthodontist onboarding and training, increased sales and marketing resources and consumer demand generation programs in support of existing and new INBRACE providers.
The orthodontic industry is experiencing a huge increase in do-it-yourself (DIY) aligner therapy, which is raising concerns among dental professionals over potential health risks from unsupervised treatment. INBRACE addresses both consumer and orthodontist needs in this evolving market, as a discrete, aesthetic and convenient solution that delivers the health benefits of light-force tooth movement.
“INBRACE is a real game-changer, and this latest funding will help us ensure that every INBRACE provider can finally give their patients what they’ve always wanted – a truly invisible journey to a great new smile that is convenient and shows immediate results,” said Dr. John Pham, CEO and co-founder of Swift Health Systems. “Even with DIY orthodontic therapy on the rise, most consumers appreciate the benefits of supervised healthcare from a licensed professional. INBRACE keeps patient care in the hands of clinicians, where the overall patient experience, oral health and treatment results are always top priorities.”
INBRACE truly invisible braces sit unseen behind patient teeth, leveraging an all-digital platform and innovative wire and bracket designs to create the ideal smile for each patient’s unique situation. Patented INBRACE Smartwires® are programmed using data captured from digital scans of patient teeth and automate many steps in orthodontic treatment. The INBRACE system allows patient anatomy to naturally dictate the most efficient path for all tooth movements, resulting in increased practice efficiency and reduced overall treatment time – a true win-win for patients and orthodontists.
"Vivo is delighted to join the Swift Health Systems team,” said Andrew D. Goldberg, MD, principal at Vivo Capital and future Swift board member. “We believe that the advanced technologies behind INBRACE truly invisible braces will revolutionize the future of orthodontic treatment. The capital raised will enable Swift to advance the ways it supports patients and orthodontists around the globe."
Joining Dr. Goldberg on the Swift board are accomplished med-tech professionals and venture capitalists Peter Moldt, PhD, partner at Novo Ventures; and Aaron Royston, MD, partner at venBio.
About Vivo Capital
Vivo Capital (“Vivo”) is a healthcare-focused investment firm formed in 1996 with over $3 billion under management. Vivo is currently making investments out of its growth and private equity fund into promising late-stage private and public healthcare companies in the U.S., Europe, and Greater China, from its Opportunity Fund into promising public healthcare companies, and from its PANDA Fund into promising early-stage innovative healthcare companies. For more information visit http://vivocapital.com/.
About Novo Holdings A/S
Novo Holdings A/S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding and investment company of the Novo Group, comprising of Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation’s assets. Novo Holdings is recognized as a leading international life science investor, with a focus on creating long-term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Novo Ventures is a wholly owned subsidiary of, and provides certain consulting services to, Novo Holdings. For more information visit: www.novoholdings.dk.
About venBio
venBio Partners is a life sciences investment firm that partners with industry leaders to build innovative medicines and technologies, with a focus on novel therapeutics for unmet medical needs. For more information, please visit www.venbio.com.
About INBRACE
Hidden behind your teeth, INBRACE® is the new name for truly invisible braces and the aesthetic solution that patients love and doctors trust. The patented Smartwire® system with GentleforceTM technology is tailored to each patient’s unique smile, promoting good oral health through light-force tooth movement and allowing patients to brush and floss normally. Orthodontists appreciate the health benefits of light-force tooth movement and the practice growth opportunities that INBRACE creates. Learn more at www.myinbrace.com or connect with your nearest INBRACE provider with the easy-to-use doctor finder at www.myinbrace.com/doctor-finder.