Development and first clinical application of an innovative muscle stimulator for the treatment of the heart insufficiency financially secured
The German state Mecklenburg-Vorpommern, the Technologiefonds MV, the High-Tech-Gruenderfonds and the Fides Finanz-Invest place together 1.5 Mio. EUR into the Wismar, Germany located medical technology company Microstim GmbH. In close collaboration with the Clinic of Cardiac Surgery, Lübeck, Germany of the University Hospital Schleswig-Holstein, Germany, Microstim develops a new, tissue-maintaining and function-preserving implantable muscle stimulator for muscle powered cardiac assistance.
“This muscle stimulator might be a milestone in the establishment of a new surgical procedure to treat the widespread disease ”cardiac insufficiency”. In this therapy, an electrically stimulated patient’s own muscle of the back supports the diseased heart muscle. In contrast to the heart transplantation, this operative procedure might be available for a large patient population due to unlimited availability of patient’s own musculature.” says Prof. Dr. med. Norbert W. Guldner from the Clinic of Cardiac Surgery, Lübeck, Germany. His team worked more than 20 years in the field of muscle powered cardiac assistance.
Particular feature of this smart muscle stimulator is, that in contrast to other devices the newly Microstim stimulator prevents a hazardous muscle overstimulation. Thus the device helps to permanently maintain muscular tissue and preserve muscle’s contractile function.
„The financial means will be used for the development, construction and, planned in 2012, the first clinical application of this innovative muscle stimulator.“ explains Dr. 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.“
„Essential for our involvement in the Microstim is primarily the quality of the team, the high
degree of cross-linking between the company and medical professionals and the vast number of patients who might benefit from this therapy option.“ emphasises Uwe Bräuer, managing director of the Technologiefonds MV. Only in Europe and the USA, 450.000 people died annually, because their heart was not able to pump blood sufficiently. However only approximately 3.500 heart transplantations were done world wide per year. This represents less than 1% of the need.
Dr. Bernd Goergen, Senior Investment Manager of the High-Tech Gruenderfonds comments: “Microstim has made tremendous progress since our seed financing and we are highly excited that this has now been acknowledged and rewarded through this financing round with a growing number of investors. The transition of Microstims highly innovative therapy of heart insufficiency from animals to humans is now financially secured.
Mirko Stemmler, managing director of the Fides Finanz-Invest GmbH & Co KG:
“We support the project “Microstim” since ten years. We believed in the successful development and noticed with gratification the progress over time. With the help of all partners, nothing is standing in the way for an appropriate market launch.”
The medical technology 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 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.
GENIUS Venture Capital GmbH
Hagenower Straße 73, 19061 Schwerin
Tel: +49 385-3993-500
Fax: + 49 385-3993-510
Internet: www.technologiefonds-mv.de www.genius-vc.de
About the Fides Finanz-Invest GmbH & Co.KG
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.
About High-Tech Gründerfonds
High-Tech Gründerfonds invests venture capital in promising technology companies that turn innovative concepts into viable businesses. Seed financing aims to help start-ups guide their innovation to the prototype or proof-of-concept stage or to market launch. High-Tech Gründerfonds provides seed financing of approximately €500,000. It supports high-tech companies by way of its investment managers and its highly-qualified network of coaches, investors and specialists. In individual cases it can invest up to a total of €2 m per company. The investors in this public private partnership are the German Federal Ministry for Business and Technology, the KfW Banking Group as well as the six industrial groups of BASF, Deutsche Telekom, Siemens, Robert Bosch, Daimler and Carl Zeiss. High-Tech Gründerfonds has an investment volume totalling approx. €272 m.
High-Tech Gründerfonds Management GmbH
Dr. Bernd Goergen
Senior Investment Manager
Ludwig-Erhard-Allee 2 53175 Bonn
Tel: +49 228 – 82300-136
Fax: +49 228 – 82300-050