Diligence memo · auto-generated · as of July 3, 2026
SANUWAVE Health, Inc.
SANUWAVE Health, Inc. looks under-valued against its niche peers and is quiet on financing cadence.
Businessfiled
SANUWAVE Health, Inc. operates in Biotechnology, based in Eden Prairie.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
SANUWAVE Health, Inc. has raised $83M in disclosed capital across 18 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $25M on 2020-08-06.
Most recent recorded round closed around 2024-06-18.
Valuation (modeled)modeled
Provath models SANUWAVE Health, Inc. at approximately $13M (range $3.6M–$24M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.08× the median modeled value of Series B Biotechnology companies in 2022–2024 (197 peers) — value vs value, same stage and era. Issuer reports $5M–$25M revenue while modeled below niche peers.
Financing rhythm & timingmixed
Historic cadence: a new round about every 10 months.
Last raise 2.0 yr ago; this sector typically re-raises about every 14 months.
Slightly overdue versus sector cadence.
The last round was 2.5× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 88% of Biotechnology peers (4293 compared).
Modeled value ranks above 22% of those peers.
Closest niche peers: Mt McKinley Medical Holding Corp USA, YAP Therapeutics Inc, Pinteon Therapeutics, Inc., OncXerna Therapeutics, Ltd., EpiBiologics, Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.