San Francisco, USA. 8 January 2025 — Siren is proud to announce thecompletion of a $9.5m funding round, led by an $8 million strategic investmentby Mölnlycke Health Care, with participation from new and existing investors, tofurther the development and adoption of Siren’s innovative diabetic foot ulcer(DFU) prevention solutions. This marks a pivotal step in transforming DFU careby integrating Siren’s cutting-edge temperature-sensing textile technology withMölnlycke’s expertise in wound care.

More than 830 million people globally live with diabetes¹, many of whom are at risk of developing DFUs, leading to severe complications, including amputations. Siren’s flagship product, Siren Socks, uses patented technology to detect early signs of potential foot injuries, reducing the risk of DFUs by up to 68%² and amputations by 83%². Coupled with remote patient monitoring services, Siren’s ecosystem provides comprehensive care that enhances patient outcomes, and reduces healthcare costs. 

“This partnership represents a major milestone in our journey to redefine DFU prevention and management,” said Ran Ma, co-founder and CEO ofSiren. “Mölnlycke’s investment underscores the importance of preventive technologies in tackling chronic conditions like DFUs. Together, we aim to empower patients with tools that help them stay healthy and independent while easing the load on healthcare providers. Prevention is the key to avoiding painful, costly, and life-altering complications.”

A Shared Vision for Innovation in Wound Care

‍The investment aligns with Mölnlycke’s strategic focus on innovative solutions and digital ecosystems.Siren’s temperature-sensing socks provide real-time monitoring of patients’ feet, detecting hotspots that indicate potential ulcers. Alerts are automatically sent to remote wound care teams, enabling timely interventions and ensuring early triage of high-risk cases. This proactive approach reduces unnecessary procedures, improves patient quality of life, and brings down costs for both patients and healthcare systems.

 Zlatko Rihter, CEO of Mölnlycke, commented “Our strategic investment in Siren reflects our commitment to integrating into digital ecosystems and pioneering innovative digital solutions that revolutionise healthcare delivery. Helping to prevent wounds from occurring is also in line with Mölnlycke’s Wound Care mission to ‘help free patients from the burden of wounds and our ambition to further support healthcare in the post-acute segment.”

Looking Ahead

‍With Mölnlycke’s support, Siren is poised to expand its reach and further integrate its technology into healthcare systems. The partnership combines Mölnlycke’s extensive market knowledge and established presence in wound care with Siren’s groundbreaking technology, setting the stage for a future where DFUs can be prevented before they even occur. 

About Siren

‍Siren is at the forefront of smart wound care technology, specializing in innovative solutions that revolutionize the way diabetic foot ulcers and other wound types are prevented and managed. Through its unique blend of technology, clinical evidence, and patient-centered design,Siren is dedicated to enhancing quality of life and reducing healthcare costs for patients worldwide. www.siren.care

About Mölnlycke

Mölnlycke Health Care is a world-leading MedTech company that specialises in innovative solutions for wound care and surgical procedures.Mölnlycke products and solutions are used daily by hospitals, health are providers and patients in over 100 countries around the world. Founded in 1849,Mölnlycke is owned by Investor AB and headquartered in Sweden. www.molnlycke.com  

Media Contact‍

Email: press@siren.care

References

1 WHO, https://www.who.int/health-topics/diabetes

2 Shih et al., Effectiveness of a Continuous RemoteTemperature Monitoring Program to Reduce Foot Ulcers and Amputations: Multicenter Postmarket Registry Study, JMIR Diabetes 2024