First equity raise for hearing solutions company Hemideina

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Hemideina, a hearing solutions company focussed on the development and commercialisation of the Hera Wireless Implant, has successfully raised a Series A investment of $1 million in their first round of equity financing.

The company said the financing will enable Hemideina’s continued research and development of the Hera Wireless Implant in preparation for clinical testing, market development activities and the broadening of the company’s IP portfolio.

According to Dr Elizabeth Williams, CEO and co-founder, “Our pioneering innovation will significantly disrupt the global hearing implant market by removing current technical barriers to miniaturisation, battery life and sound quality. We’re excited to have investment partners on board that bring global experience in medical devices, strategy and commercialisation to help us achieve our mission. This support will help accelerate our vision of bringing novel technologies to the hearing impaired to vastly improve their lives.”

Dr Kate Lomas, Co-Founder and Chief Technology Officer, invented the Hemideina technology, having taken inspiration from insect hearing.

Dr Lomas holds a PhD in Biology from Auckland University. Her research has focused on the investigation of insect hearing systems leading to the development of new acoustic technology that will transform hearing implants and the quality of life for the profoundly deaf.

Andrew Maxwell, Managing Director of Chatsworth Associates, will join Hemideina’s Board of Directors as Chairman.

“I am excited to be supporting the team with this groundbreaking, Melbourne-based technology. Hemideina has developed unique intellectual property that will challenge the incumbent 40-year old approach to hearing solutions for the profoundly deaf. The global hearing implant market is a large and attractive one, that is currently dominated by Cochlear, Sonova and Med-El.” ssaidMr Maxwell.

Hemideina also announced former AusBiotech CEO and current Medicines Australia chair Dr Anna Lavelle will join its board as a non-executive director.