Protembis, a German medtech company, has secured €20 million in venture-debt financing from the European Investment Bank (EIB). The funding aims to advance the ProtEmbo cerebral embolic protection system, a device designed to protect the brains of patients undergoing certain heart procedures. This investment aligns with the InvestEU programme’s objective to stimulate substantial investment in innovative technologies by 2027.
Other reports have noted that Protembis previously raised €30 million in a Series B financing round in March 2024 to further its FDA-approved Investigational Device Exemption study. Comparatively, the company’s funding endeavors align consistently with its mission to enhance patient safety during heart surgeries. The ProtEmbo system’s development has been extensively documented as a crucial advancement in reducing the risk of stroke and cognitive decline during transcatheter aortic valve replacement (TAVR) procedures.
Focus on Health and Innovation
Protembis focuses on developing the ProtEmbo Cerebral Protection System, an intra-aortic filter that shields the brain from embolic material during left-sided heart procedures like TAVR. The device is delivered through the left radial artery, ensuring optimal placement without interfering with TAVR equipment. The ongoing clinical investigations aim to provide comprehensive data on the system’s effectiveness and safety.
ProtEmbo’s primary function is to deflect embolic material away from arteries leading to the brain, significantly reducing the risk of stroke and cognitive decline during heart procedures. This technology is expected to benefit around 430,000 patients with severe aortic stenosis globally by 2025. Embolic protection systems like ProtEmbo are crucial for enhancing patient outcomes and healthcare efficiency.
Strategic Financial Support
The EIB’s €20 million funding will support Protembis in conducting clinical trials, research, development, and market access for the ProtEmbo system across Europe, the US, and other regions. This financial support is part of the broader InvestEU programme, which seeks to mobilize over €372 billion in additional investment by 2027. The programme emphasizes the importance of innovation and technological advancement in improving healthcare and other sectors.
Protembis co-CEOs Karl von Mangoldt and Conrad Rasmus acknowledged the significance of the agreement, highlighting the EIB team’s professionalism and the unwavering support from their investors.
“We are pleased to announce the signature of this agreement with the EIB. 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.”
The European Investment Bank, owned by EU Member States, focuses on long-term finance to support EU policy goals. Its initiatives include promoting climate action, innovation, and infrastructure development. The InvestEU programme, under which the Protembis funding falls, leverages private and public funds to support EU’s sustainable recovery and policy priorities, including the European Green Deal and digital transition.
This collaboration between Protembis and the EIB represents a significant step towards improving patient safety in heart procedures. With the ProtEmbo system, Protembis aims to mitigate the risks associated with TAVR, offering a solution to a critical healthcare challenge. The EIB’s financial support underscores the importance of innovation in medical technology, reflecting a broader commitment to enhancing patient outcomes and advancing healthcare standards.
