Aevice Health obtained the solutions clearance as a Class ll medical device from the US FDA and received its first-in-market approval from Singapore’s HSA.
Heaptalk, Jakarta — Singapore-based remote respiratory monitoring provider Aevice Health has seized undisclosed funding from East Ventures. The company will utilize the fresh injection to access Aevice Health’s flagship solution, the AeviceMD Monitoring System, to millions of patients with chronic respiratory diseases in Southeast Asia.
“Chronic respiratory disease represents a significant untapped opportunity in the Southeast Asian market. Backed by East Ventures’ unwavering support and extensive network, we are poised to bring transformation solutions to address this pressing need in the region,” said the Chief Executive Officer of Aevice Health, Adrian Ang.
The research estimated that over 7% or about 48.5 million of the population suffer from Chronic Respiratory Disease, with asthma and Chronic Obstructive Pulmonary Disease (COPD) amongst the most common chronic respiratory diseases. In Indonesia, over 4.5%, or approximately 11.2 million people, suffer from COPD.
Authorities have anticipated episodes of respiratory exacerbations to worsen during periods of haze of forest fires. Recently, numerous countries across Southeast Asia have also embraced a proactive stance in combating chronic diseases. Notably, Indonesia has spearheaded pilot programs that equip early adopters with wearables to monitor their health and achieve better outcomes.
Founded by Adrian Ang, Dr. Rex Tan, and Dr. Ser Wee in 2018, this health-tech startup centers on positioning the platform as an affordable, easily accessible solution for patients of all ages, enabling seamless management of their respiratory conditions from the comfort of their homes.
Further, the company develops AeviceMD Monitoring System to provide a comprehensive patient management platform for chronic respiratory disease management. Leveraging cutting-edge proprietary algorithms, the AeviceMD Monitoring System continuously monitors biomarkers of interest acquired by its intelligent wearable stethoscope. Patients at risk of exacerbations can be identified early to prevent readmissions or emergency department visits.
The Co-Founder and Managing Partner of East Ventures, Willson Cuaca, admitted, “We are excited to welcome Aevice Health to East Ventures’ ecosystem. With their expertise and cutting-edge technology, we believe the startup has the potential to reshape respiratory care globally. Together, we look forward to transforming healthcare and delivering personalized and effective care for patients worldwide,”
This announcement follows on the heels of two outstanding milestones for AeviceMD. Last week, the US Food and Drug Administration (FDA) granted the solution clearance as a Class ll medical device. On the other hand, the Singapore Health Sciences Authority (HSA) also gave the startup first-in-market approval in March. These approvals enable the company to market and provide its remote monitoring platform in these critical markets.
