Microstim successfully raised funds for the first clinical application of their heart assist system
September 17, 2013
The HCS Beteiligungsgesellschaft, the Technologiefonds MV, the High-TechGruenderfonds and the Fides Finanz-Invest invests about 500.000 EUR for the European CE-approval and the first clinical application of the Microstim muscle stimulator.
The HCS Beteiligungsgesellschaft, the Technologiefonds MV, the High-Tech Gruenderfonds and the Fides Finanz-Invest invests about 500.000 EUR for the European CE-approval and the first clinical application of the Microstim muscle stimulator.
„This new muscle stimulalor plays a key role in the cardiomyoplasty, a surgical procedure for the treatment of patients with the widespread disease ‘congestive heart failure’. In this therapy, patient’s own broad muscle of the back is wrapped around the sick heart and is stimulated electrically by the Microstim implant. Microstim’s significant advancement of the muscle stimulator addresses the protection of the muscular tissue over many years.” says Prof. Dr. med. Norbert W. Guldner, cardiac surgeon and researcher. His team worked more than 20 years in the field of muscle powered cardiac assistance.
The unique feature of the Microstim development is, that the new muscle stimulator budgets the daily muscular cardiac assistance capability and avoids muscle overstimulation. Thus, undesired muscular tissue changes should be prevented and muscle’s contractile function should be preserved over long-term.
„The financial means will be used for the completion, CE-approval and first clinical application of this innovative muscle stimulator. The whole team meets the specific challenges of a safety critical implantable device.“ explains Dr. Peter Klapproth, co-founder and managing director of the Microstim GmbH. „We are convinced to establish, together with our partners, this highly needed heart failure therapy.“
„Solely in Germany, approximately 300.000 patients probably suffer from dilated cardiomyopathy, a condition in which the heart becomes weakened and enlarged. Relevant appraisals estimate a further increase. A significant number of these patients could not benefit any more from medication. We believe that the cardiomyoplasty has the potential, in combination with the implant developed by Microstim, to counteract the progressive cardiac insufficiency and increase patients’ quality of life. Thus in many cases the need for a heart transplantation might become postponed or even avoided. For this technology, we clearly see not only in Germany and Europe, but also worldwide a great demand.” says Hans-Christian Semmler, managing director of the HCS Beteiligungsgesellschaft.
The medical device company Microstim develops a tissue-maintaining and function-preserving implantable muscle stimulator for muscle powered cardiac assistance. Particular feature of the patented stimulation system is that the implant permanently monitors the stimulation loading of the muscle and counteracts a therapy threatening overstimulation.
About HCS Beteiligungsgesellschaft mbH
HCS invests in promising young technology enterprises, which face the challenges of market entry and subsequent growth and internationalization. A further focus is distressed investment in economically threatened companies to restore their competitiveness by providing capital and the competence of HCS’s management. It draws from substantial international experience which has gained through over two decades leading large listed and medium sized private corporations in various industries as CFO resp. CEO. Thereby HCS’s management successfully lead strategic repositionings including financial and organizational restructurings, divestments and acquisitions, including post-merger integration. For many entrepreneurs the competent mentoring and preparedness for long-lasting engagements are compelling reasons to choose HCS’s participation. HCS’s area of operations mainly lies within Germany and Austria.
HCS Beteiligungsgesellschaft mbH
Bockenheimer Landstraße 2-4
Tel: +49 69 264846
About Technologiefonds MV
The Technologiefonds MV is an initiative of the German state Mecklenburg-Vorpommern. The fund invests venture capital into innovative and growth-orientated technology companies in Mecklenburg-Vorpommern particularly within the seed, start-up and expansion phase. The fund is managed by the GENIUS Venture Capital GmbH.
About Fides Finanz-Invest
The Fides Finanz-Invest GmbH & Co. KG belongs to the JASIKA group located in Hamburg, Germany. The story of the JASIKA holding started 40 years ago as the main shareholder explored the market and built his own business model. Due to reorganisation in 2004, the family-owned holding with the name “JASIKA” was founded. With proud we look back on many projects all over Germany. These comprise mainly real estate for example business buildings in Berlin, Dresden and Essen. The portfolio includes hotels, retirement homes and many business centers. Since 2000 investments into miscellaneous companies are done. The seat of the holding is in the newly build Hafencity in the heart of Hamburg.
JASIKA Holding GmbH
Am Kaiserkai 53
Tel: +49 40 – 369 017-46
Fax: +49 40 – 369 017-51
About High-Tech Gruenderfonds
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 573.5 million under management in two funds (EUR 272 million HTGF I, EUR 301.5 million HTGF II).
High-Tech Gründerfonds Management GmbH
Dr. Bernd Goergen
Tel.: +49 (228) 823 001-13
Fax: +49 (228) 823 000-50