Protembis Announces Completion of € 30 Million Series B Financing Round and the Addition of Keith D Dawkins MD to the Board of Directors

Rhea-AI Summary

Protembis GmbH completes a €30 million Series B financing round to support the PROTEMBO Investigational Device Exemption (IDE) Pivotal Trial. The funding was co-led by European VC investors. Dr. Keith D. Dawkins joins the Board of Directors, bringing significant expertise in cardiovascular environments.

Financing and Reinforcement of Board of Directors Builds Momentum in Readiness for the Initiation of the IDE Pivotal Trial

AACHEN, Germany--(BUSINESS WIRE)-- Protembis GmbH (Protembis), a privately-held emerging cardiovascular medical device company, announced today the completion of a € 30 million Series B financing round to support the enrollment of the PROTEMBO Investigational Device Exemption (IDE) Pivotal Trial (NCT05873816). The funding round was structured in two separate capital increases which have both been completed. It was co-led by a European consortium of VC investors including Sweden-based Segulah Medical Acceleration, Italy-based XGEN Venture, and Germany-based TechVision Fund. Other investors include Coparion, several large family offices, angel investors and a multinational medical device strategic.

“We are delighted to announce the completion of the round and would like to thank our existing investors as well as the new investors for their trust and confidence,” said Karl von Mangoldt and Conrad Rasmus Co-CEOs of Protembis. “It reflects the fact that the field of cerebral embolic protection is buoyant, and that future growth will be driven by younger and lower risk patients who have zero tolerance for brain injury risk when selecting to undergo transcatheter aortic valve replacement.”

Additionally, Protembis is proud to announce the addition of Keith D. Dawkins, MD, to the Board of Directors. Dr Dawkins has more than 35 years’ experience in the cardiovascular environment. With over 20 years as a practicing interventional cardiologist in the UK he has held research roles as a Fulbright Scholar at Stanford University, served as President of the British Cardiovascular Intervention Society, and authored more than 750 academic publications and presentations. Dr Dawkins has been the Chief Medical Officer (CMO) of Shockwave (NASDAQ:SWAV) since 2019, and this was preceded by his role as Global CMO at Boston Scientific where he held senior positions since 2008. He also serves as a member of the boards of Ventric Health LLC and JenaValve Technology Inc., as well as Chairman of InnovHeart s.r.l. Dr Dawkins will contribute his significant expertise to the clinical strategies of Protembis and the pre-commercial programs as the IDE study reaches its conclusion.

“To have such a visionary leader as Dr Dawkins join our Board of Directors is an exciting indication of the opportunities that cerebral embolic protection holds for future transcatheter therapies. We look forward to close collaboration as the field develops and our superiority trial gains momentum,” said Azin Parhizgar, PhD, Chairwoman of the Board of Directors.

“As a long-term believer in the need to protect the brain from all new lesions during transcatheter aortic valve replacement, I am very pleased to join Protembis,” said Dr Dawkins. “The ProtEmbo System and the clinical trial design are both novel and I am confident that they will be highly disruptive to the field of cerebral embolic protection, removing or mitigating many of the current issues that concern the physician community.”

About ProtEmbo^® and Protembis

The ProtEmbo^® Cerebral Protection System is an intra-aortic filter device that protects the entire brain from embolic material liberated during transcatheter aortic valve replacement (TAVR). It is a low-profile non thrombogenic system that shields all cerebral vessels, delivered through the left radial artery for optimal placement and stability. This is an ideal access site enabling physicians to avoid interference with TAVR equipment typically delivered through the femoral artery.

Protembis is a privately held emerging medical device company that has developed the ProtEmbo^® Cerebral Protection System. The company strives to provide a simple and reliable solution to protect patients from brain injury during left-sided heart procedures, improving patient quality of life and reducing overall healthcare costs associated with brain injury during such procedures. The ProtEmbo System is currently undergoing clinical investigations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240325053798/en/

Protembis GmbH

Conrad Rasmus & Karl von Mangoldt

+49(0)241 9903 3622

management@protembis.com

www.protembis.com

Source: Protembis

FAQ

What is the purpose of the €30 million Series B financing round by Protembis GmbH?

The financing round aims to support the enrollment of the PROTEMBO Investigational Device Exemption (IDE) Pivotal Trial.

Who co-led the funding round for Protembis GmbH?

The funding round was co-led by a European consortium of VC investors including Segulah Medical Acceleration, XGEN Venture, and TechVision Fund.

Who is the newly appointed member of the Board of Directors at Protembis GmbH?

Dr. Keith D. Dawkins, with over 35 years of experience in cardiovascular environments, has joined the Board of Directors.

What is Dr. Keith D. Dawkins' role at Shockwave (NASDAQ:SWAV)?

Dr. Keith D. Dawkins has been the Chief Medical Officer (CMO) of Shockwave since 2019.

What is Dr. Keith D. Dawkins' expertise that he will bring to Protembis GmbH?

Dr. Keith D. Dawkins will contribute his significant expertise in clinical strategies to the IDE study and pre-commercial programs at Protembis GmbH.