SEED Acquires Majority Stake in Sensimed

Sensimed announced the closure of a transaction whereby the Japanese public company SEED has acquired a majority stake in Sensimed. The transaction closed on November 29 with SEED now owning over 90% of outstanding shares.

Financial terms of the deal were not disclosed.

The two companies have a successful collaborative history. In August 2013, SEED became a commercial partner in Japan and invested in Sensimed by way of a loan. They worked closely together to obtain PMDA (Pharmaceuticals and Medical Devices Agency, Japan) approval for SENSIMED Triggerfish in September 2018. Also in 2013, the two companies signed a memorandum of understanding concerning further collaboration. In August of 2019, SEED’s loan was converted to preferred shares and SEED became a 12.55% shareholder in Sensimed.

“This transaction secures the Sensimed Contact Lens sensing technology going forward and ensures it will continue to play an important role in the clinical assessment and management of glaucoma patient,” David Bailey, CEO of Sensimed, said in a company news release. “SEED recognized the value of the Sensimed technology by partnering with us in Japan and by investing in the company at an early stage in my tenure as CEO. I am personally delighted with this outcome for all parties and am confident SEED will continue to develop the platform technology in order to build on their current success in selling Sensimed Triggerfish in the Japanese market. As a subsidiary company, Sensimed will benefit from the full resources of SEED in order to achieve the combined goals for the technology. This transaction comes at a very opportune moment for both companies”.