German GME Medical Engineering GmbH wins BayBG as new investor: Financing round with a volume of 1 million Euro successfully completed
The positive development of the GME German Medical Engineering GmbH, based in Erlangen, convinced the BayBG to enter as a new investor in the medical technology company. Seed investors Bayern Kapital, HTGF and private investors have increased their commitment. This includes, among others, Dr. Dieter Manstein, (co-) inventor of two fundamental methods of modern dermatology. The total volume of financing (Series A) amounted to EUR 1 million.
Medical devices based on laser and light systems are used by a growing number of dermatologists and plastic surgeons for treating skin diseases and aesthetic applications. GME has developed a new generation of these systems. They are easy to use, powerful and portable, making it suitable for a wide range of users.
GME was founded in 2011. The Company’s first product, a CO2 laser to treat wrinkles, received CE approval at end of 2012. Since then it has been accepted by international target groups. GME plans to launch 1-2 new products per year. They are based on the Company’s innovative platform technology. The financing round will allow GME to market its products worldwide.
“BayBG is convinced of the positive future prospects of the company”, said Marcus Gulder, head of the venture capital division. Investment manager Otto Hopfner adds: “The demographic development in conjunction with the growing health consciousness and modern ideals of beauty makes the demand increase medium and long term. GME stands out on this growing market with some unique features and characteristics, e.g. new technologies that enable a compact design of the laser”.
“We are delighted to have secured the support of the BayBG and our existing shareholders for the development of the Company,” explains the Managing Director of GME, Dr. Stefan Schulze. “This gives us the opportunity to expand our product portfolio and address key markets worldwide.”
About GME German Medical Engineering GmbH
GME was founded in June 2011 by four industry experts. Product development takes place with a team of experienced engineers and technicians in Erlangen. GME combines an innovative self-developed laser scanner with state-of-the-art electronics and robust light sources that have been developed for continuous use in industrial applications. This allows new developments to be implemented quickly and efficiently.
GME German Medical Engineering GmbH German GME Medical Engineering GmbH
Dr. Stefan Schulze
D-91052 Erlangen, Germany
Tel: +49 9131 934159-10
Fax: +49 9131 934159-99
Through its investments, BayBG is currently strengthening the capital base of 500 Bavarian medium-sized businesses. The BayBG is thus the Bavarian market leader among medium-sized enterprise-oriented investment companies. Through its commitment, the BayBG enables the companies to realize expansion and innovation plans, make corporate succession plans as well as optimize the capital structure and implement of turn-around measures.
About Bayern Kapital
Bayern Kapital GmbH is a public Bavarian venture capital company and was founded as part of the “Bavarian Future Initiative” as a wholly-owned subsidiary of the LfA Foerderbank Bayern (Bavaria’s development bank) at the end of 1995. Bayern Kapital and its funds have invested 180 Mio. € in more than 220 companies. Overall, Bayern Kapital now manages a fund volume of 200 million Euro. Bayern Kapital invests principally in small and mid-sized companies with a strong growth potential in key industrial technologies.
About Dr. Dieter Manstein
Dr. Dieter Manstein, is a physician and physicist and works at Harvard Medical School on dermatological applications of energy-based systems. He is (co-) inventor of two basic methods of modern dermatology: Fractional Photo-Thermolysis and Cryolipolysis for noninvasive body shaping. Dr. Manstein was awarded the Innovation Awards of the German and the American laser associations.
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 573.5 million under management in two funds (EUR 272 million HTGF I, EUR 301.5 million HTGF II).
High-Tech Gruenderfonds Management GmbH
Dr. Martin Pfister
Tel: +49 228 823001-00
Fax: +49 228 823000-50