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NonWoTecc Medical GmbH. (6/28/11). "Press Release: Completion of €7 Million Financing Round".

Region Region Germany
Organisations Organisation NonWoTecc Medical GmbH
  Organisation 2 NRW.Bank Dusseldorf
  Group Nordrhein-Westfalen (govt region)
Products Product medical device
  Product 2 venture capital
Index term Index term NonWoTecc–SEVERAL: investment, 201106 2nd financing round €7m NRW.BANK + Rainer Christine +HTGF + KfW et al
Persons Person Willems, Frank (NonWoTecc Medical 201107 Managing Director)
  Person 2 Christine, Rainer (Science to Market Venture Capital 201108– Managing Director before amaxa 200407 CEO + co-founder)
     


Cologne (Germany)-based medical technology company NonWoTecc Medical GmbH is receiving growth financing from NRW.BANK as well as from an industry-experienced consortium of private investors headed by Rainer Christine. Previous investors Rheinland Venture Capital, Kreissparkasse Köln, High-Tech Gründerfonds and KfW are also participating in the second financing round.

One of the largest capital investments in the sector in 2011

The fresh capital of €7 m is to be used for the product approval and launch of vascular prostheses in the peripheral and coronary areas. In addition, the production system is to be expanded and further marketing and commercialization of the coating technology is to be utilized.

Strong investment group

"We are very happy that in addition to the previous shareholders we were able to attract further prominent investors to our technology and our team," said Frank Willems, co-founder and managing director of NonWoTecc Medical GmbH.

"NonWoTecc is characterized by a convincing combination of a technology base with several applications in major vascular market segments, ambitious plans for the future and a high degree of corporate responsibility. I'm very much looking forward to the coming years," said Rainer Christine, founder and former CEO of Amaxa and a private investor.

New technology may lead to solution in coronary bypass surgery

NonWoTecc Medical GmbH develops and produces artificial vascular prostheses from biocompatible high performance polymers produced in a special patented manufacturing process. The innovation lies in the special processing of the material proven in medical technology, polycarbonate urethane (PCU). For the first time this allows the nearly life-like replication of a native arterial wall.

"NonWoTecc GmbH has a proprietary technology platform, which in medical technology is not only excellently suited for the production of artificial vascular prostheses, but also in coating can be applied to very promising medical applications such as stents," said Dr. Thomas Raueiser, Investment Manager of NRW.BANK.

State of the art facilities

All products are developed and manufactured in the new certified cleanroom facilities under the direction of co-founder and medical device production specialist Christoph Classen.

Quality in the medical device manufacturing is critical. NonWoTecc has invested heavily in setting up the most advanced quality control and is ISO 13485 certified. To ensure continued and stringent controls expert Dr.-Ing. Andreas Henseler has strengthened the management team in 2010.

First product in clinical trial:

In a record development time of less than 3 years the NonWoTecc team has developed its first vascular graft that is now undergoing clinical testing in patients. The product is tested in 12 leading vascular clinics in Germany with lead investigator Professor Brunkwall in Cologne. The initial patient recruitment phase is now finished.

Bright future:

It is expected that the first product may hit the market in 2012. NonWoTecc is currently in discussion with various industry partners to prepare for market entry. It is expected that many new products will follow:

"The technology platform of NonWoTecc offers endless possibilities in the medical field, and certainly not limited to the vascular arena only. We already work successfully together with several established medical device companies in different fields" states industry veteran Dr. Harrie van Baars, who is responsible for the roll out of the commercialization activities of the company."

   
Record changed: 2017-04-02

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