The High-Tech Gründerfonds invests in the Microstim GmbH
February 5, 2009
The High-Tech-Gründerfonds, Bonn, Germany invests 500.000 Euro in the German medical technology start-up company Microstim GmbH. The Microstim GmbH, situated in Lübeck, is developing a new, tissue-maintaining and function-preserving myostimulator needed for muscle powered cardiac assistance.
Muscle powered cardiac assist might be offered to patients who suffer from a heart insufficiency not controllable by medication. This new therapeutic approach with a nearly unlimited availability of patients own assisting muscle, offers an additional therapy option for the vast majority of patients who can not receive a donor organ. It is applicable for patients with a moderately severe but not drug controllable heart insufficiency.
“In contrast to the heart transplantation, muscle powered cardiac assistance might be available for a larger patient population.” Prof. Dr. med. Norbert W. Guldner from the Clinic of Cardiac Surgery, University Hospital Schleswig-Holstein, Campus Lübeck points out. His team has been investigating therapeutic approaches utilizing patients own muscle for 20 years, in order to assist failing heart muscles.
Dr. Klapproth, co-founder and managing director of the Microstim GmbH explains „Unlike other myostimulators, our implant takes care of the muscle, prevents overstimulation and permanently maintains muscle’s structure and function.” He underlines “The seed capital of the High-Tech Gründerfonds is used to develop a human applicable myostimulator and test it experimentally. The clinical trial of the product will begin in the year 2010. We are pleased that this strong partner supports us to provide a new, imperatively needed heart insufficiency therapy. The network of the High Tech-Gründerfonds as well as of the corporate consultant and High-Tech-Gründerfonds-coach Catcap GmbH, Hamburg, Germany afford the important access to the venture capital and investment market.”.
Dr. Bernd Goergen, Senior Investment Manager of the High-Tech Gründerfonds Management GmbH summarizes the reasons for the investment: “Considering the ageing world population and Microstim’s clear technological and patent-protected USPs, the company is very well positioned in a fast growing market with high medical need. With our investment we will accelerate the development of a therapy solution for patients with terminal heart insufficiency that is for the first time long-lasting, cost-saving and still allows the maintenance of a high quality of life.”
Mark Miller, the CatCap coach with an expert know-how of more than 50 venture capital investments and M&A transactions is confident that “As soon as Microstim successfully completes its product development, not only the concerned patients will be pleased, but also the existing and future shareholders of further financing rounds.”
About Microstim GmbH
The start-up company Microstim GmbH develops a tissue and function maintaining implantable myostimulator dedicated to muscle powered cardiac assistance. Particular strengths of the Microstim GmbH are the microcontroller controlled acquisition and processing of data, control of cardiac and muscle stimulator impulses, wireless “in-body”-communication as well as experimentally and clinically validation of the development.
At the national business plan contest “Science4Life” in the year 2008, the Microstim GmbH was one of the ten winners of the concept phase.
About Catcap GmbH, Hamburg, Germany
CatCap supports knowledge-based enterprises and their shareholders in questions concerning the sale of shares and equipment with equity capital, the optimisation of corporate portfolios and other strategic capital transactions at partner and enterprise level.
Through CatCap entrepreneurs obtain efficient access to equity capital, from angel investors, venture capital and private equity funds to strategic investment partners.
In 2008 CatCap successfully advised/completed 14 transactions.
CatCap works with over 60 private investors and over 30 VC/Private-Equity-companies and is based in Hamburg.
About High-Tech Gründerfonds:
High-Tech Gründerfonds invests venture capital in young, high-opportunity technological companies implementing promising research results in an entrepreneurial manner. The start-up companies are planned to lead their R&D projects to the production of a prototype or a “proof of concepts” or market launch by means of the seed financing of up to 500k EUR. The High-Tech Gründerfonds has a fund volume of around 272m EUR. Investors of the public-private partnership are the Federal Ministry for Economics and Technology, the KfW bank group as well as the six industrial groups BASF, Deutsche Telekom, Siemens, Robert Bosch, Daimler and Carl Zeiss.
High-Tech Gründerfonds Management GmbH
Dr. Bernd Goergen
Phone: +49 228 – 965685-00
Fax: +49 228 – 965685-50