DGAP-News: TROD Medical Completes EUR4.75M Series B Financing
(firmenpresse) - DGAP-News: TROD Medical NV/SA / Key word(s): Miscellaneous
TROD Medical Completes EUR4.75M Series B Financing
24.10.2013 / 18:00
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TROD Medical Completes EUR4.75M Series B Financing
- Co-led by Capricorn Venture Partners and Vesalius Biocapital
- Proceeds will be used to deliver further clinical evidence of the
EncageTM RF Device in focal treatment of localized prostate cancer
Leuven, Belgium, October 24th, 2013 - Medical device company TROD Medical
NV/SA today announced that it has successfully completed a Series B
financing round for EUR4.75m co-led by Vesalius Biocapital through its
Vesalius Biocapital II Arkiv N.V. Fund (Brussels Belgium) and Capricorn
Venture Partners through its Capricorn Health-tech Fund (Leuven, Belgium).
Other investors in the Series B round are Gemma Frisius Fund, the spin-off
fund of the University of Leuven (Leuven, Belgium) and the Flemish
investment company PMV, through its healthcare fund FCI (Brussels,
Belgium). This funding will be used to perform clinical studies in both
Europe and the US to further validate the EncageTM technology for the focal
treatment of prostate cancer.
As part of the financing, TROD Medical relocated its head office to Leuven,
Belgium. In addition, TROD medical will enter into a collaboration with the
Medical Imaging Research Center (MIRC), an interdisciplinary research
center in the University Hospitals Leuven, campus Gasthuisberg.
Andre Faure established TROD Medical to develop and commercialize a radio
frequency based technology called EncageTM, which allows very precise
soft tissue ablation, including cancer spots in the prostate. The TROD
Medical technology EncageTMoffers an innovative type of treatment with
reduced risk of side effects, like impotence and incontinence. The first
patients were successfully treated in a pilot study.
'This transaction is a great example of how a number of local actors can
make the difference: the involvement of a strong local investor syndicate
and the input of local know-how and expertise will allow TROD Medical to
advance and optimize its product offer,' commented Frank Bulens, Partner at
Capricorn Venture Partners.
Stéphane Verdood, Co-Founder and Managing Partner at Vesalius Biocapital
said, 'We are very happy that we identified this opportunity back in 2012
and that we could convince the founders and CEO to move to Flanders. The
technology is great and very promising.'
TROD Medical Chief Executive Andre Faure commented, 'This new financing
round will allow expansion of our EncageTM RF ablation technology in
outstanding Centers in the US and Europe. The Urology Community is very
excited about the precision and consistency of our EncageTM ablation device
and it won't take long to establish our technology as the only one really
effective for focal ablation treatments.'
As part of the financing Frank Bulens (Capricorn Venture Partners) and
Stéphane Verdood (Vesalius BioCapital) joined the Board of Directors.
-end-
About TROD Medical NV/SA
Trod Medical is a Medical Device Company, with headquarters in Leuven
(Belgium) and Tampa Bay area (USA). The Company, incepted in 2006 by Dr.
Andre Faure, developed significant expertise in developing innovative
ablation technologies, particularly Radio Frequency (RF) ablation devices.
Trod Medical developed a disruptive percutaneous RF device, the EncageTM,
able to ablate tissues with a degree of precision unmatched by competition.
The technology represents a major breakthrough in treatments where
collateral tissue damage is a significant burden to patients, like prostate
cancer.
Prostate Cancer is one of the most common cancers, with around 240,000 new
cases per year in the US alone, and is notably known for the inability of
its commonly used treatments in avoiding significant side effects, like
erectile dysfunction (impotence) and urinary incontinence.
About Capricorn Health-Tech Fund and Capricorn Venture Partners
Capricorn Venture Partners is an independent pan-European venture capital
and asset manager seeking to invest in technology based growth companies.
Capricorn's dedicated investment teams are composed of experienced
investment professionals with deep technology expertise and a broad
industrial experience. Capricorn is investing out of its Capricorn
Cleantech Fund, its Capricorn Health-tech Fund, the Capricorn ICT Arkiv and
is managing Quest for Growth, a cross-over fund quoted on EuroNext
Brussels, and the Quest Management Cleantech Sicav.
For more information, visit http://www.capricorn.be.
About Vesalius Biocapital
Vesalius Biocapital is a pan-european venture capital group investing in
early stage innovative biotech companies. Most of our investments consist
of therapeutic companies, developing new drugs and devices. Out total fund
size is 160m EUR. The team is composed of experienced life science experts
and business people.
For more information visit www.vesaliusbiocapital.com
About Gemma Frisius Fund
In 1997, KU Leuven, Fortis Private Equity Belgium and KBC Bank established
the Gemma Frisius Fund (GFF) as a seed capital fund designed to stimulate
the creation and growth of KU Leuven spin-off companies. Over the years,
the GFF has invested EUR 26 million in 39 KU Leuven spin-off companies. For
more information, please visit
www.lrd.kuleuven.be/en/spinoff/gemma-frisius-fund
About PMV nv
PMV nv is a Flemish investment company. It finances promising entrepreneurs
from the very start through the growth and to the internationalization of
their business. It also invests in large infrastructure projects and real
estate. It focuses on the sustainable economic development of Flanders,
with demonstrable added value for both economy and society (www.pmv.eu).PMV
nv is een Vlaamse investeringsmaatschappij. Zij financiert beloftevolle
ondernemers van bij de prille start tot aan de groei en
internationalisering van hun bedrijf. Zij investeert ook in grote
infrastructuurprojecten en vastgoed. Haar focus is gericht op de duurzame
economische ontwikkeling van Vlaanderen, met aantoonbare meerwaarde voor
economie en maatschappij (www.pmv.eu).
For additional information
Andre Faure, TROD Medical - CEO
Email: andre.faure(at)trodmedical.com
End of Corporate News
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