2.6 million euros for medtech company Fasciotens
Essen — The Gründerfonds Ruhr, initiated jointly by NRW.BANK and Initiativkreis Ruhr, has made its first investment. As part of a Series A financing, he has invested around 2.6 million euros in Fasciotens GmbH together with the VC investor coparion. The Essen-based medical technology company has developed an innovative therapy for open abdomens.
“Fasciotens is Gründerfonds Ruhr’s first investment and a perfect example of young and innovative medical technology business ideas that can thrive in the Ruhr region,” says Dr. Aristotelis Nastos, one of the two managing directors of Gründerfonds Ruhr.
Dr. Sebastian Pünzeler, Investment Manager at coparion, added: “Fasciotens was developed by practicing surgeons for surgeons and will significantly improve medical care for high-risk open abdomen patients, simultaneously reducing the length of stay of patients in the intensive care unit.”
The new therapy “Fasciotens Abdomen” was developed by the founders and managing directors of Fasciotens GmbH, the surgeons Dr. Gereon Lill and Dr. Frank Beyer. They have developed a device that attaches externally to the abdominal wall and keeps the abdominal wall fasciae in a state of tension. Thus, they provide a solution to the surgical problem of abdominal closure after an open abdomen. Patients with life-threatening illnesses can thus be treated with good success. In addition to improved patient care, the use of this novel therapy results in a significant reduction in treatment costs.
In the future, the procedure will also be used in infants with a congenital abdominal wall defect.
For the two managing directors, the investment is a stroke of luck.
“The participation of Gründerfonds Ruhr and coparion in the amount of approximately 2.6 million euros enables us to rapidly advance CE approval and the first clinical application study, and to prepare the market entry of the first product,” says Dr. Frank Beyer. “In addition, funding will also be made available for the development of other products.”
“Together with the investors, we have established concrete milestones and are benefiting from the experience and network of our investors in the still young phase of our company,” adds Dr. Gereon Lill.
The new therapy is also well received in practice.
Prof. Dr. Krieglstein, Chief Physician of the Surgical Clinic at St. Elisabeth Hospital Cologne-Hohenlind, explains: “The idea originated in surgical practice and is convincing in its simplicity. Due to the severity of the disease, the treatment form meets an immense medical need.”
Photo (from left): Dr. Sebastian Pünzeler (coparion), Dr. Gereon Lill and Dr. Frank Beyer (both Fasciotens), Dr. Aristotelis Nastos (Gründerfonds Ruhr).
Source: Initiativkreis Ruhr/reprint free of charge
About the Gründerfonds Ruhr
The Gründerfonds was initiated jointly by Initiativkreis Ruhr and NRW.BANK and is the first private-sector early-stage fund in the Ruhr region financed by regional industrial and financial companies. The fund invests in innovative and technology-oriented companies from the life science & health, digital economy, chemicals & new materials, energy & industry, and logistics & trade sectors. Prerequisites are good growth and exit prospects as well as competent management. As a multi-corporate early-stage fund, it also opens up important industry access points for the respective portfolio companies. www.gruenderfonds-ruhr.com
coparion is a venture capital investor for young, German technology companies. With a fund volume of 225 million euros, coparion is making a significant contribution to rapid and sustainable growth. coparion supports entrepreneurial vision with know-how without interfering in the operational business. With many years of experience in venture capital and in building up companies, the coparion team recognizes potential and opens up new perspectives. coparion brings the substance, perseverance and creativity to successfully master even difficult situations together. coparion finances exclusively together with co-investors. The focus is on the start-up and young growth phase. The fund invests up to €10 million per company, usually in several financing rounds of €0.5–5 million each. Coparion has offices in Cologne and Berlin.
Fasciotens GmbH, based in Essen, Germany, was founded in 2016 by Dr. Gereon Lill and Dr. Frank Beyer. It develops innovative products for surgery. The founders place particular emphasis on direct contact with users in the clinics, which takes place on an equal footing due to their many years of medical practice.