Navigation Links
NanoPowers Raises CHF 5 Million ($4.5 Million) in Series A Financing to Support Development of Breakthrough Urinary Incontinence Device
Date:6/1/2010

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. (http://www.venturefund.novartis.com)

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. (http://www.defigestion.ch). 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:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... 2016 Any dentist who has made an implant ... process. Many of them do not even offer this as ... high laboratory costs involved. And those who ARE able to ... a high cost that the majority of today,s patients would ... Parsa Zadeh , founder of Dental Evolutions Inc. and inventor ...
(Date:6/23/2016)... Capricor Therapeutics, Inc. ... company focused on the discovery, development and commercialization ... in its ongoing randomized HOPE-Duchenne clinical trial (Halt ... its 24-patient target. Capricor expects the trial to ... 2016, and to report top line data from ...
(Date:6/23/2016)... June 23, 2016  Astellas today announced the establishment of Astellas Farma Colombia (AFC), a new affiliate with operations ... Latin America . ... ... ... ...
Breaking Medicine Technology:
(Date:6/26/2016)... Birmingham, Lake Orion, Clarkston, Michigan (PRWEB) , ... ... ... their direction with respect to fertility once they have been diagnosed with endometriosis. ... for tolerable intercourse but they also require a comprehensive approach that can help ...
(Date:6/25/2016)... Lewisville, TX (PRWEB) , ... June 25, 2016 , ... ... in the United States, named Dr. Sesan Ogunleye, as the Medical Director of its ... be the facility Medical Director of our new Mesquite location,” said Dr. James M. ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published June ... with. The article goes on to state that individuals are now more comfortable seeking ... common operations such as calf and cheek reduction. The Los Angeles area medical group, ...
(Date:6/24/2016)... MIAMI, Fla. (PRWEB) , ... June 24, 2016 , ... ... Florida Trend magazine’s 2016 Legal Elite. The attorneys chosen by their peers for this ... of Florida. , Seven Greenberg Traurig Shareholders received special honors as members of this ...
(Date:6/24/2016)... ... June 24, 2016 , ... EB Medicine ... Making in Emergency Medicine conference in Ponte Vedra Beach, FL. The awards honor ... Emergency Medicine Practice and Pediatric Emergency Medicine Practice. , “With this ...
Breaking Medicine News(10 mins):