The Aachen, Germany-based company plans to use the funds to support enrollment for its PROTEMBO FDA investigational device exemption (IDE) trial. The trial evaluates the company’s embolic protection technology. European VC investors, including Segulah Medical Acceleration, XGEN Venture and TechVision Fund co-led the round. Other investors included Coparion, along with large family offices, angel investors and a multinational medical device strategic.
The intra-aortic filter device protects the brain from embolic material during transcatheter aortic valve replacement (TAVR). A low-profile, non-thrombogenic system delivered through the left radial artery, ProtEmbo shields all cerebral vessels.
Protembis featured on MassDevice’s 2019 list of startups to know and previously received funding from big names in medtech like Abiomed.
“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.”
Protembis adds medtech veteran to its board
In addition to the funding, Protembis announced the appointment of Dr. Keith D. Dawkins to its board. Dawkins, a veteran of the cardiovascular space, currently serves as chief medical officer at Shockwave Medical. Before that, he was global chief medical officer at Boston Scientific as well.
“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.”
Dawkins joining the board at Protembis adds more experience and guidance for the development of the ProtEmbo device.
“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, Protembis board chair.