High Tech Gruenderfonds Invests in NovaPump GmbH
The Jena-based heart technology firm NovaPump GmbH has successfully completed a first round of financing with High Tech Gruenderfonds in July 2013. This financing will support the development of a catheter-based procedure for right heart and biventricular support.
The basic concept being developed by the team working with NovaPump founder and cardiologist Dr. Markus Ferrari and Managing Director Ronald Reich (M.Eng.) offers significant advantages over the current state of technology. NovaPump will work on this project with well-known partners from the world of medical technology including an experienced catheter manufacturer, a test laboratory for medical products as well as renowned research institutions including Jena University Hospital’s Clinic for Internal Medicine (I) and the Fraunhofer Institute for Applied Optics and Precision Engineering. By bringing together their years of experience in the “PERKAT” consortium, the developers, consortium partners and investors are confident that significant synergies can be realized.
“Our intention is to supplement the long-established practice in interventional cardiology of using catheter-based, Intra-aortic Balloon Counterpulsation (IABP) with a patented new pump catheter that incorporates a special ventilation system. With this innovation, it will be possible to use the IABP procedure on the right ventricle and thereby allow the treatment of patients experiencing right heart failure after a posterior myocardial infarction or suffering from acute right heart failure. The integration of our pump support technology into the stand-alone IABP apparatus currently in use will enable a significantly increased pumping volume in the treatment of acute care cases,” explains Managing Director Ronald Reich.
“We believe that the NovaPump has great potential and that its development puts an improved tool at the disposal of interventional cardiologists. Our technology will have a positive impact on outcomes for patients suffering from acute right heart failure, isolated right heart failure or cardiogenic shock, a condition that, despite modern heart medicine, still has an average one-year mortality rate of more than 50% in industrialized nations. It is our goal to have this product approved for use by 2016 so that it can help save patients’ lives,” states Prof. Markus Ferrari.
Dr. Martin Pfister, Senior Investment Manager with High Tech Gruenderfonds, explains why the fund has chosen to invest in NovaPump GmbH: “Through its involvement in the “PERKAT” consortium, the NovaPump team, with its years of industry and research experience, will be able to get the advantages its pulsating NovaPump technology offers over current axial pumping systems into a market ready position. In addition, the highly-professional research environment in Jena and NovaPump’s strong patent position make this an interesting investment.”
About NovaPump GmbH
Founded in mid-2012, this medical technology company operates in the field of interventional cardiology, specifically in the development of a percutaneous heart support procedure that can be used on either ventricle. NovaPump’s approach effectively supplements current IABP pump technology with a catheter-based system that aims to achieve a significantly higher pumping volume during the treatment of acute care cases. The NovaPump technology is based on several of the company’s innovations that have already received patent protection.
About High-Tech Gruenderfonds
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 thirteen industrial groups of ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Qiagen, RWE Innogy, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 563 million under management in two funds (EUR 272 million HTGF I, EUR 301,5 million HTGF II).
High-Tech Gründerfonds Management GmbH
Dr. Martin Pfister
Senior Investment Manager
Tel: +49 228 823001-00