– SPAIN, Madrid – MedLumics, a privately held medical device company developing AblaView, the first optically-guided real-time ablation catheter system for the treatment of Atrial Fibrillation, today announced that it has closed an upsized €18 million financing round led by Asabys Partners and joined by Kurma Partners along with new investors, VI Partners Swiss Innovation and CDTI Innvierte Economía, and existing investors Andera Partners, Caixa Capital Risc and Innogest Capital II.
Having achieved pre-clinical feasibility in 2020, these proceeds will now enable MedLumics to initiate first-in-human regulatory clinical studies and automate scalable product manufacturing.
Concurrent with the financing, Medlumics welcomes renowned venture capital investor Rich Ferrari as new Chairman of the Board of Directors. Mr. Ferrari brings to the team his wealth of experience in medical device innovation and commercialization as a successful CEO of two publicly traded medical technology companies and as co-founder and Managing Director of De Novo Ventures.
Current Chairman Olivier Litzka of Andera Partners will assume the role of Vice-Chairman.
James Greene, CEO said: “We are very pleased to have received funding from such a strong investment syndicate and I am delighted to welcome Rich Ferrari as Chairman to our Board. We are honored to have attracted someone of his caliber and look forward to benefiting from his impressive experience to support MedLumics as we progress through our development towards market entry. I would like to give heartfelt thanks to Olivier Litzka for his advice and guidance these past years and we are very grateful for his continued support as Vice Chairman of the Board.”
Olivier Litzka, Partner at Andera Partners, commented: “We have seen an intensive and exciting period between 2017 and 2020, in which Medlumics has masterminded technically one of the most difficult to accomplish challenges in the electrophysiology lab by delivering a catheter which is capable of performing real-time lesion assessments during AF ablation. Following this achievement, we are in a favorable position to have attracted Rich Ferrari, an accomplished MedTech entrepreneur, executive, board member, and investor, and we look forward to moving towards clinical proof of concept under his Chairmanship.”
Peter Neubeck, Partner at Kurma Partners, said: “We are excited to work with MedLumics in developing truly innovative technology, a potential game-changer in the interventional treatment of Atrial Fibrillation, a multi-billion-euro market opportunity. Patient outcomes will be dramatically impacted by the ability of clinicians to follow in real-time the progression of ablations and their quality. We are happy to be joining this talented team and our syndicate partners, in supporting MedLumics’ evolution into a successful international business.”
About Rich Ferrari
Rich Ferrari has over 35 years in the healthcare industry, with a demonstrated history of working in the venture capital and private equity industry. Before founding De Novo Ventures in 2000, Rich was a successful CEO of medical technology companies, CardioThoracic Systems, and Cardiovascular Imaging Systems, both of which he took public. Rich remains very active as Executive Chairman of De Novo Ventures and mentors many first-time CEOs. He also serves as a faculty member of the Stanford Biodesign Emerging Entrepreneurs Forum, as well as a board member for the Stanford Coulter Foundation for Translational Medicine.
Rich Ferrari, newly appointed Chairman, added: “I am very excited to be joining such a competent team and board of directors. The Medlumics technology has the potential to greatly enhance clinical outcomes by providing real-time feedback on constant contact of the ablation and visual display of the depth and conductivity of the tissue.”
Rich holds a BS degree from Ashland University and an MBA from the University of South Florida.
MedLumics SL, founded in Madrid in 2009, is a medical device company focused on the design and development of an optically guided radiofrequency ablation system for the treatment of Atrial Fibrillation. Its flagship product, AblaView, allows the operator to directly assess both the positioning of the ablation catheter on the myocardium and the continuity and transmurality of the ablation. Medlumics Ireland Ltd. is a subsidiary and IDA company developing automated optical sensor and packaging processes for high volume manufacture.
For more information: https://www.medlumics.com/
About Kurma Partners
Founded in July 2009, Kurma Partners is a key European player in the financing of innovation in healthcare and biotechnology, from pre-seed to growth capital, notably through Kurma Biofund I through III and Kurma Diagnostics, as well as via strategic partnerships with prestigious European research and medical institutions. Innovative projects from Academia and research institutions, aspiring to meet the unmet medical need is an important pillar of the firm’s investment strategy, a second is venture capital financings of innovative young companies in Biotech and MedTech.
For more information: https://www.kurmapartners.com/en
About Asabys Partners
Asabys Partners is a venture capital manager firm specialized in the healthcare sector, founded by Josep Ll. Sanfeliu and Clara Campàs and participated by Alantra. Its first investment vehicle, Sabadell Asabys Health Innovation Investments SCR, SA, was launched in 2019 and is backed by the Banc Sabadell as a reference investor. The fund has a target size of more than €80M and invests in healthcare companies across three verticals: MedTech, digital therapeutics, and biotech, that have highly innovative and disruptive technologies. The fund’s investment in the company benefits from the financial backing of the European Union under the European Fund for Strategic Investments set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.
For more information: https://asabys.com/
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