Navigation Links
NanoPowers Raises CHF 5 Million ($4.5 Million) in Series A Financing to Support Development of Breakthrough Urinary Incontinence Device

LAUSANNE, Switzerland, June 1, 2010 /PRNewswire/ -- NanoPowers SA, a medical device company that leverages its unique artificial muscle technology to restore or improve muscle function, today announced the closing of a CHF 5 million ($4.5 million) series A financing. The financing round was led by Novartis Venture Funds (NVF). Also participating in the financing were Initiative Capital Romandie (ICR) and Gran Plasa SA. Novartis Venture Funds were also seed investors in the company.

Martin Horst, PhD, chief executive officer, said: "We are very pleased with the ongoing support of the Novartis Venture Funds, and welcome ICR and Gran Plasa to our investor base. We will use the proceeds from the financing to finalize the development of our lead product ARTUS, a breakthrough artificial urinary sphincter, and initiate the first clinical studies. ARTUS addresses a huge unmet medical need, and is the first device of its kind that also lends itself to be easily implanted in women, who are by far the most affected by severe incontinences. Incontinence constitutes a devastating disability, affecting self-confidence and self image, and often leads to social isolation."

Florent Gros, Managing Director of the Novartis Venture Funds, said: "We are excited to support NanoPowers' development of their breakthrough technology applied to artificial sphincters. Incontinence is one of the largest untapped markets in the medical device industry, while demographic changes in western countries are significantly increasing the incidence of incontinences. We believe that ARTUS has the potential to significantly improve patients' quality of live, while substantially reducing treatment costs."

NanoPowers & technology platform

NanoPowers was founded by Piergiorgio Tozzi, MD, of the University Hospital of Lausanne (CHUV), and Professor Daniel Hayoz, of the Cantonal Hospital of Fribourg and the CHUV. Capitalizing on their long experience in surgery, vascular medicine, and innovative device development, they have since 2004 developed a unique artificial muscle technology. NanoPowers' initial focus is on the application of this proprietary technology in the development of artificial muscles for the treatment of severe incontinences. NanoPowers was selected in 2009 by the Swiss Commission for Technology and Innovation (CTI) as one of the best innovative medical technology companies, and won the prize for best abstract at the European Association of Urology congress in Barcelona in 2010. Dr. Tozzi is chairman of the company's board of directors; Dr. Hayoz is a director.

About Novartis Venture Funds

Novartis Venture Funds, established in 1996, have currently over $750 million under management and is invested in more than 60 private companies. The Novartis Venture Funds invest in companies that have the potential to lead the next innovation wave in core therapeutic fields or explore new business areas that will be critical to patient care. The NVF team of eight investment professionals located in Basel, Switzerland and Cambridge, MA brings together extensive experience in R&D and venture capital. (

About Initiative Capital Romandie (ICR)

ICR is a Swiss venture capital fund, managed by DEFI Gestion SA, a Lausanne based private equity fund advisor. ICR was founded in 2006 by Retraites Populaires Vie, Banque Cantonale Vaudoise, Centre Patronal, and Etablissement Cantonal d'Assurance. ICR supports high-tech starts-ups based in the French part of Switzerland. ( In connection with the investment in NanoPowers, Claude Suard, partner at DEFI Gestion, will join the NanoPowers' board of directors as an observer.

About Gran Plasa

Gran Plasa SA, a private fund based in Fribourg, Switzerland, invests in high-tech, construction, and real-estate companies in Switzerland and across Europe.

SOURCE NanoPowers SA
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Curexo Technology Corporation Raises $13.2 Million
2. Cardinal Health Raises Quarterly Dividend By 11 Percent
3. IMPLANET Raises Additional EUR 8 Million (USD 11 Million) to Fuel Deployment
4. Intercept Pharmaceuticals Raises $25 Million Series B Financing
5. The Oclaro Next-Generation Orion Fiber-Coupled Diode Laser Raises the Bar for Performance, Cost and Reliability for Solid State Lasers
6. Circassia Raises GBP15 Million ($25 Million) in Oversubscribed Investment Round
7. Apnex Medical, Inc. Raises Additional $14 Million
8. Cambridge-based Ligon Discovery Raises $1M in Seed Funding
9. FREE Drug Discount Card Saves Money on Prescriptions and Raises Funds for Americas Disabled Veterans
10. CareFusion Reports First Quarter Results, Raises Full-Year Outlook
11. NxStage(R) Reports Third Quarter 2009 Financial Results and Raises Revenue Guidance for Fiscal 2009
Post Your Comments:
(Date:11/26/2015)... Nov. 26, 2015 Research and Markets ... the "2016 Future Horizons and Growth Strategies ... Supplier Shares, Country Segment Forecasts, Competitive Intelligence, Emerging ... --> --> This ... the Japanese therapeutic drug monitoring market, including emerging ...
(Date:11/26/2015)... , November 26, 2015 /PRNewswire/ ... announced the addition of the  "2016 ... the Global Cell Surface Testing Market: ... report to their offering.  --> ... addition of the  "2016 Future Horizons ...
(Date:11/26/2015)... November 26, 2015 ... universitetssjukhus ser potential att använda SyMRI för ... för patienter med multipel skleros (MS) ... med SyntheticMR AB för att kunna använda ... sjukhuset. Med SyMRI kan man generera flera ...
Breaking Medicine Technology:
(Date:11/25/2015)... , ... November 25, 2015 , ... ... where preparing the perfect dish and pleasing the palates of attendees is of ... bringing a dish to a seasonal get-together, give these recipes a try this ...
(Date:11/25/2015)... NV (PRWEB) , ... November 25, 2015 , ... Dr. ... patients to learn more about hair loss treatment with the Capillus272™ Pro laser therapy ... effective solution for thicker and fuller hair, without the need for surgery, prescription pills, ...
(Date:11/25/2015)... ... , ... According to an article published November 10th by The ... as a breakthrough for performing hernia repairs. The article explains that the biggest advantage ... it can greatly reduce the pain that a patient might otherwise experience after a ...
(Date:11/25/2015)... (PRWEB) , ... November 25, 2015 , ... ... for physicians and athletic programs, launches new Wimbledon Athletics Facebook page ... testing young athletes for unsuspected cardiac abnormalities. About 2,000 people under the age ...
(Date:11/25/2015)... ... 25, 2015 , ... SCOTTSDALE, AZ) - Today, Dr. ... both surgical and non-surgical treatments, announced the expansion of his private practice capabilities ... , Highly trained and nationally recognized for his natural approach, Dr. Todd ...
Breaking Medicine News(10 mins):