Minister for Economics Brüderle awards EBS Technologies
Rainer Brüderle, Federal Minister of Economics and Technology, today commended EBS Technologies as High-Tech Gründerfonds’ 2010 lighthouse project. The award was presented during the ‘Economy – School – Government technology dialogue’ as part of the technology initiative in Berlin.
The start-up, based in the town of Kleinmachnow, has developed a non-invasive medical product to treat patients with functional disorders following a stroke or brain trauma. Three factors were key to EBS Technologies being chosen from among the 220 companies in High-Tech Gründerfonds’ portfolio:
1. EBS Technologies’ therapy method gives many patients hope of ameliorating their illness-induced speech and vision deficiencies more quickly, efficiently and without additional strain.
2. High-Tech Gründerfonds’ seed investment was made during a phase that was still much too early for other investors. With this initial funding EBS Technologies succeeded in taking its highly promising therapy method forward from the concept phase to clinical evaluation. The start-up has thus reached a key milestone for a young medical technology business.
3. Given this positive development, EBS Technologies was able to attract further well-known investors to fund its business. This constitutes evidence of impressive, individual team performance, but also of successful ‘crowding-in’ involving young, high-tech enterprises. With this additional financial clout and sector know-how it will now be possible to launch the optimised method on the market.
Ulf Pommerening, EBS Technologies’ Director of Sales and Marketing, received the award certificate together with Prof. Bernhard A. Sabel, co-founder and advisory board member, from Federal Minister for Economics Brüderle. “We are very pleased about this award because it underscores our path so far, which has not always been easy. We will continue to work hard on being able to help as many patients as possible with our development in the near future.”
“The Company received its first financing from High-Tech Gründerfonds in a very early phase, during which the risk was still too high for many other investors. The team has fully exploited the potential that we already saw at the outset. We have thereby succeeded in gaining further well-known investors, with whose help patients will now soon be able to benefit from the EBS system,” said Dr Caroline Fichtner, Senior Investment Manager at High-Tech Gründerfonds, in expressing her pleasure about this award to the company.
About EBS Technologies
EBS Technologies GmbH was established in 2007 on the basis of more than 15 years of preliminary research. The Company is developing a method for non-invasive treatment of brain disorders that frequently occur after a stroke or craniocerebral trauma, such as loss of vision or speech. The principle of the therapy is based on the brain’s ability to repair itself. Significant improvement in the neurological disorder can be achieved with the medical device developed by EBS as soon as within 10 days. Two multiple-centre studies are currently underway and are expected to produce their results at the end of this year. On this basis, initial introduction into clinical practice is scheduled for 2012.
About High-Tech Gründerfonds
High-Tech Gründerfonds invests in young, innovative technology firms based in Germany. The fund makes available the required start-up capital and supports founders as they set the parameters for the structures of their business: in terms of strategy and by providing impetus. High-Tech Gründerfonds was established in 2005 upon the initiative of the German Federal Ministry for Business and Technology (BMWi). Alongside the BMWi and the KfW Banking Group, industrial companies BASF, Deutsche Telekom, Siemens as well as Daimler, Robert Bosch and Carl Zeiss have invested in the fund. The public/private partnership fund has a volume of EUR 272 million.
High-Tech Gründerfonds Management GmbH
Dr. Caroline Fichtner
Senior Investment Manager
Tel: +49 228 823001-00