Fresenius Medical Care Ventures, the venture capital unit of Fresenius Medical Care, announced today that it has invested $2 million in the Series B financing round for Vectorious Medical Technologies (“Vectorious”). The Israeli medical device company raised more than $10 million in this financing round, including a recent grant from the European Union’s Horizon 2020 flagship research and development program.
Vectorious has developed the V-LAP, a first of its kind in-heart microcomputer for left-atrial pressure monitoring. Data from this device is transmitted wirelessly to clinicians, enabling heart failure patients to be managed effectively before their disease advances.
The Series B financing will accelerate Vectorious’ ongoing R&D programs, as well as CE Mark and FDA regulatory approval initiatives.
“This first investment we have made outside of the United States demonstrates our confidence in the great innovative potential for medical products in Israel. Based on the pioneering nature of Vectorious’ technology for managing chronic heart failure patients’ care, we see this as a compelling early stage investment opportunity with tremendous potential,” said Florian Jehle, Managing Director of Fresenius Medical Care Ventures and Senior Vice President Global R&D at Fresenius Medical Care.
About Fresenius Medical Care Ventures GmbH
Fresenius Medical Care Ventures was established in 2016 to invest in start-ups and early-stage companies in the healthcare sector. Its investments are targeted to support Fresenius Medical Care’s corporate strategy of growing continuously in the company’s core dialysis business, expanding into new business areas and improving the health of all Fresenius patients. Fresenius Medical Care Ventures complements other corporate innovation initiatives by focusing on early-stage external innovation. For more information, visit www.fmcv.com.
About Vectorious Medical Technologies
Vectorious Medical Technologies has developed an implantable microcomputer-based system that enables optimal management of heart failure patients using direct, daily left-atrial pressure (LAP) measurements. The system’s technological infrastructure is based on use of the first and only sensory implant in the world that is miniature, battery-less and wireless, and that can communicate accurate readings from the heart. The company was founded in 2011 at the RadBioMed incubator by Oren Goldshtein, Dr. Eyal Orion and Roni Weinstein. Vectorious has 15 employees at its offices in Ramat Hahayal in Tel Aviv and at the Cleveland Clinic.
Fresenius Medical Care is the world's largest provider of products and services for individuals with renal diseases of which around 3.2 million patients worldwide regularly undergo dialysis treatment. Through its network of 3,790 dialysis clinics, Fresenius Medical Care provides dialysis treatments for 322,253 patients around the globe. Fresenius Medical Care is also the leading provider of dialysis products such as dialysis machines or dialyzers. Along with its core business, the company provides related medical services in the field of Care Coordination. Fresenius Medical Care is listed on the Frankfurt Stock Exchange (FME) and on the New York Stock Exchange (FMS).
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.