German Medtech Protembis has raised €20 million in venture debt financing from The European Investment Bank (EIB) to develop a next-generation device for protecting the brains of patients who undergo certain heart treatments.
The company aims to provide a simple and reliable solution to protect patients from brain injury during left-sided heart procedures, through the development of the ProtEmbo® Cerebral Protection System, an intra-aortic filter device that protects the entire brain from embolic material liberated during transcatheter aortic valve replacement (TAVR).
Globally, around 430,000 patients with severe aortic stenosis are expected to be treated with TAVR by 2025.
However, a significant complication of TAVR is the risk of dislodging debris that lines the aortic arch and the old aortic valve. This debris can travel to the brain via three major arteries that originate in the roof of the aortic arch. It can block the smaller vessels in the brain and create lesions, which may cause stroke or contribute to acceleration of cognitive decline.
ProtEmbo® is inserted during TAVR via the artery in the left wrist, and lines the roof of the aortic arch, shielding the brain from the dislodged debris.
The funding is to support clinical trials, research, development and market access for the “ProtEmbo®” cerebral embolic protection system.
“We are pleased to announce the signature of this agreement with the EIB,” said Protembis Co-Chief Executive Officers Karl von Mangoldt and Conrad Rasmus. “We would like to recognise the hard work, skill and professionalism of the EIB team while thanking our existing investors and our board for their unwavering belief in the benefits of this additional financing facility.”
“This agreement demonstrates our commitment to supporting companies such as Protembis that aim to improve the health and well-being of European citizens, said EIB Vice-President Nicola Beer.
The EIB accord with Protembis is supported by the InvestEU programme to trigger more than €372 billion in additional investment in new technologies until 2027. The deal is aligned with the InvestEU objective of promoting research, development and innovation.
In March 2024, Protembis completed a €30 million Series B financing round.
Lead image: Protembis. Photo: uncredited.
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