- EIB offers Protembis venture debt for next-generation technology to reduce risk of brain injury in patients undergoing catheter-based heart treatment
- Financing is to complete clinical trials and support marketing of “ProtEmbo” cerebral embolic protection system
- Funding will accelerate research, development and market access in Europe, the US and elsewhere
The European Investment Bank (EIB) is providing €20 million in venture-debt financing to German medical-technology company Protembis to develop a next-generation device for protecting the brains of patients who undergo certain heart treatments.
The funding is to support clinical trials, research, development and market access for the “ProtEmbo” cerebral embolic protection system. ProtEmbo is a filter device that deflects embolic material away from arteries to the brain during left-sided heart procedures including transcatheter aortic valve replacement (TAVR), countering risks including stroke and cognitive decline.
“This agreement demonstrates our commitment to supporting companies such as Protembis that aim to improve the health and well-being of European citizens. Their innovative technology, developed in Europe, will save patients who have to undergo heart surgery, from suffering grave side effects like cerebral embolic events”, 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.
“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.”