AMT closes Eur3M series A round, and an additional Eur7M in non-dilutive funding
During the Covid-19 crisis, AMT Medical secures € 10 million of financing.
Funding will be used to bring the ELANA™ Heart Bypass system to the market.
Ede, Netherlands, September 15, 2020 – The vision of medical technology company AMT is to banish open-heart coronary bypass surgery from the world by replacing it with a minimally invasive procedure, so the patient is back home after only a few days, without pain and disfunction, to do the things he/she enjoys.
Trust in a period of uncertainty
During the Covid-19 period, AMT Medical has gained trust in the ELANA innovation from a new Dutch regional development fund Oost NL. Existing shareholders NextGen Ventures and Utrecht Holdings (UU/UMCU) are also financing this round. In total, AMT Medical has secured more than €10 million series A and non-dilutive funding to develop their easy to use, ‘best in class’ keyhole coronary bypass technology. A new standard, with lower costs for society, fewer complications, and a faster recovery for the patient.
“In these COVID-19 times, I am thrilled with this investment in a disruptive coronary bypass procedure, which will have a major impact. Right now, we need an innovation that’s crucial for patient’s wellbeing and contributes to society by lowering costs. I wish AMT Medical every success with this funding”, said Viktor Mattousch, senior investment manager Life Sciences, Oost NL.
Fewer complications, fewer care costs
Every year in Europe, around 5 million people die from the effects of coronary artery disease, such as a heart attack. Due to the aging of the population and unhealthy lifestyles, these numbers are projected to increase in the coming years. Annually, in Europe, around 250.000 patients are treated by open heart bypass surgery (Coronary Artery Bypass Grafting), and this number is growing. The ELANA Heart Bypass System allows bypass surgery to be performed on the beating heart, via a suturing-free procedure. This can be done without fully opening the chest and thus can realize a significant reduction in recovery times, complications, and cost of care. As a new standard of care, the ELANA procedure can greatly improve patient outcomes. It also allows treatment in a group of fragile patients who currently cannot undergo bypass surgery.
“We are very pleased with the trust in our patient solution. Now we can take the important step towards the treatment of the first patients. Applications for the clinical study are submitted in both Germany and the Netherlands,” said Rutger Tulleken, CEO of AMT Medical.
About AMT Medical
Advanced Medical Technologies (AMT) is a pre-clinical stage medical device company based in the Netherlands. The AMT solution is based on a proven similar solution for the brain, the so-called ELANA (Excimer Laser-Assisted Non-occlusive Anastomosis) procedure. This ELANA brain solution was introduced to the market by Elana B.V., a company earlier founded by the CEO and the team of AMT.
Together with the UMC Utrecht, the Netherlands, we developed a new and better way to perform coronary bypass surgery. The St. Antonius Hospital in Nieuwegein, the Netherlands, and the German Heart Center in Berlin, Germany, will be the first expert centers to bring the procedure into clinical practice. They firmly believe, “Together we are better”, hence they work on a daily basis with clinical specialists, advisors, and our investors. The AMT team is vital to reach our goals; a diverse team of junior and senior members, with an extensive track record in R&D innovations, quality, regulatory, and bringing clinical solutions to patients. https://amt-medical.nl/
About the investors
- Oost NL. Oost NL is the East Netherlands Development Agency that assists companies in the eastern part of the Netherlands. Oost NL’s aim is to support (international) entrepreneurs throughout the entire process of establishing businesses and fostering growth in our region. Throughout the years, we have successfully supported more than 900 companies from all over the world. https://oostnl.com/en
- NextGen Ventures. NextGen Ventures invests in knowledge-intensive companies that bring about a change in healthcare, preferably potential breakthrough innovations that are past the ideas phase and are working on a market position. The fund prefers to take a significant minority stake in companies with strong management. Nextgen Ventures recently started its second investment fund. https://nextgenventures.nl/
- Utrecht Holdings. Utrecht Holdings consists of UMC Utrecht Holding BV and Universiteit Utrecht Holding BV, both subsidiaries of respectively the University Medical Center Utrecht and Utrecht University (The Netherlands). Utrecht Holdings invests in promising spin-offs and intellectual property originating from scientific research at both institutions. https://utrechtholdings.nl/
Contact
AMT Medical – Getlin Visser, +31 6 50 25 1668, getlin.visser@amt-medical.nl, www.amt-medical.nl