Advertisement

Picture Fairtec GmbH We Optimise the ROI of Your Event 600x60px
Document › Details

UroMems. (11/15/16). "Press Release: UroMems Closes €14m Financing to Develop Its Smart Artificial Urinary Sphincter to Market". Grenoble.

Organisations Organisation UroMems (FR)
  Organisation 2 Wellington Partners Venture Capital GmbH
Products Product medical device
  Product 2 venture capital
Index term Index term UroMems–SEVERAL: investment, 201611 financing round Series A €12m led by Wellington Partners
Persons Person Lamraoui, Hamid (UroMems 201611 CEO + Co-Founder)
  Person 2 Strohmenger, Rainer (Wellington Partners Venture Capital 201303 General Partner)
     


The amount includes €2m support from the Worldwide Innovation Challenge (CMI) within the framework of the French Program of investments for the future led by the General Investment Commission and operated by Bpifrance.


Grenoble, 15 November 2016 – UroMems, an innovative medtech company developing an active medical implantable device for treatment of severe stress urinary incontinence today announced that it has closed a € 12 million series A financing round led by Wellington Partners, Munich, Germany. Bpifrance via FABS Fund, Cita Investissement, CEA Investissement and b-to-v Partners AG also joined the round.

“I have long been frustrated by the absence of major innovations for patients suffering from stress urinary incontinence and the lack of a convenient and effective artificial urinary sphincter technology that can be used both for male and female patients. UroMems is taking the right approach to address this very high unmet medical need”, comments Prof. Pierre Mozer, cofounder of UroMems and urologist at Paris Hospital - La Pitié-Salpétrière.

“We have taken a long time to think over every single detail before starting the development of a device that really meets the clinical needs we are addressing. On the basis of our unique technology and broad IP we now are in an excellent position”, says Dr. Hamid Lamraoui, co-founder and CEO of UroMems. “This financing will allow us to complete the development of our device and to bring a novel urinary sphincter system to the market that for the first time will provide an effective and convenient solution for the benefit of many patients. And we are proud to have attracted a strong investor syndicate led by such an experienced and reputable player like Wellington Partners.”

“The high degree of innovation, the entrepreneurial spirit and the outstanding achievements of this UroMems team have very much impressed us,” adds Dr. Rainer Strohmenger, General Partner at Wellington Partners. “We believe that UroMems has the technology and the capabilities to disrupt a huge potential market that consists of 50 million stress incontinent patients worldwide.”

Privately funded until now, UroMems was accelerated by BizMedTech, headed by Dr. Stéphane Lavallée.

Stress urinary incontinence is defined as involuntary leakage of urine. It happens when pressure in the bladder is higher than that of the muscle (the sphincter) around the urethra. It is a taboo subject, but also a significant public health issue, due to the frequency and the socio-economic cost of such a handicap. Stress urinary incontinence affects hundreds of thousands of patients in industrialized countries, and its impact is constantly increasing as a result in particular of population ageing. Although principally women are concerned, urinary incontinence also affects men. The main risk factors are age, pregnancy for women and antecedents of prostate surgery for men. Urologists have different treatments for patients suffering from severe urinary incontinence. Unfortunately, in most cases, these solutions are only partially effective and the rate of surgical reinterventions due to complications caused by such treatments is still high.


About UroMems

UroMems, founded in 2011, focuses on the design, development and marketing of active implantable medical devices for the treatment of severe stress urinary incontinence.

At UroMems, world-class researchers, engineers, surgeons and entrepreneurs sharing common values have been working together for more than ten years to address a considerable health problem with significant social and economic implications. The company's headquarters are located on the Minatec campus in Grenoble, a European micro and nanotechnology innovation hub.

UroMems has been awarded by multiple distinctions and prizes including innovation grants from Bpifrance and the Worldwide Innovation Challenge (CMI) prize, phase I & II.

For further information, please visit www.uromems.com


About Wellington Partners

Wellington Partners is among the most successful pan-European Venture Capital firms. With more than € 800 million under management and offices in Munich, London and Zurich, Wellington Partners invests in start-up companies throughout Europe that have the potential to become global leaders in the areas of digital media, resource efficiency and life sciences. Since 1998, Wellington Partners has invested in more than 100 companies, including publicly listed firms like Actelion, Evolva, Genticel, Oxford Immunotec, Supersonic Imagine, Wavelight (acquired by Alcon) and Xing as well as privately held companies like AyoxxA, Definiens (acquired by Medimmune), Grandis (acquired by Novartis), G-Therapeutics, ImevaX, immatics, Immobilienscout24 (acquired by Deutsche Telekom), invendo medical, iOmx, MPM Medical, MTM Laboratories (acquired by Roche), NEUWAY Pharma, Oxagen/Atopix, Quanta, Rigontec, Sapiens (acquired by Medtronic), Sensimed, Symetis, Spotify and Themis.

For further information, please visit www.wellington-partners.com.


About BpiFrance

Equity investment are operated by Bpifrance Investissement. Bpifrance, a subsidiary of the French state and the Caisse des Dépôts and the entrepreneurs’ trusted partner, finances businesses from the seed phase to IPO, through loans, guarantees and equity investments. Bpifrance also provides operational services and strong support for innovation, export, and external growth in parnertship with Business France and Coface. Bpifrance offers to businesses a large range of financing opportunities at each key step of their development, including offers adapted to regional specificities. With its 47 regional offices (90% of decisions are made locally) Bpifrance represents a strategic tool for economic competitiveness dedicated to entrepreneurs. Bpifrance acts as a back-up for initiatives driven by the French State and the Regions to tackle 3 goals:
- Contributing to SME’s growth
- Preparing tomorrow’s competitiveness
- Contributing to the development of a positive entrepreneur ecosystem.

With Bpifrance, businesses benefit from a powerful, efficient and close representative, to answer all their needs in terms of financing, innovation and investment.

More info: @ www.bpifrance.fr – Follow us: @bpifrance


The “Fonds Accélération Biotechnologies Santé” (FABS fund),

is a €340m fund managed by Bpifrance Investissement. FABS is the result of the joint action of the Commissariat Général à l’Investissement (CGI) and Bpifrance. Its mission is to accelerate the development of projects resulting from works financed by the Programme d’Investissements d’Avenir (PIA) as part of university hospitals (IHU) and the laboratories of excellence Labex.
For further information, please visit www.bpifrance.fr and http://www.gouvernement.fr/pia3-5236


About Cita Investissement

CITA Investissement is an investment company located in Paris. Its two shareholders are Bpifrance and the Kuweit Investment Authority. CITA Investissement has 100 millions euros to invest in French SME and SMIs. Its interventions are diversified, depending on the needs and the development stage of the project: venture capital, for young and growing companies ; growth capital for more mature companies. Relationship with entrepreneurs is considered as a medium-long term partnership, based on a common development project, respect of professional ethics, shared values such as loyalty, confidentiality and proper environmental, social and governance practices. Cita Investissement relies on more than 30 years of experience through its other vehicles. Since 1985, CIta has invested in more than 150 companies in many sectors, such as Actelion, Allo-Ciné, REP, Marionnaud, Sidel etc.

For further information, please visit www.cita-invest.com.


About CEA-Investissement

With €110 M under management, its proximity to public research laboratories and the venture capital industry, CEA Investissement is a key player in launching and financing startup companies in France. To date it has funded over 50 companies developing strong innovations in the fields of information technology, energy and environment and life sciences. CEA Investissement has generated several successful exits, including companies such as IPDIA, TRACIT, ULIS, MOVEA and FERMENTALG. The investment in UROMEMS was made through the Amorçage Technologique Investissement (ATI) fund. The CEA, Bbifrance (using the FNA), EDF, SAFRAN and BIOMERIEUX are investors in ATI.

www.cea-investissement.com | Contact : Celia Hart, Investment Director, Life Sciences, celia.hart@cea.fr


About b-to-v Partners AG

b-to-v Partners AG is a venture capital firm based in St. Gallen and Berlin. With some 200 members, it is one of the leading networks of entrepreneurial private investors in Europe. b-to-v combines the industry expertise and experience of its members with the venture capital expertise of its own team. With this investment approach, b-to-v is committed to achieving sustained added-value for its portfolio companies as well as for its investing members. Investing together and the enjoyment inherent in the mutual financial, technical and personal support from entrepreneur to entrepreneur form the core of the b-to-v philosophy.

For more information, please visit www.b-to-v.com


Press Contacts:

UroMems
Hamid Lamraoui
Phone: +33 (0) 4 80 42 02 41
hamid.lamraoui@uromems.com

Wellington Partners, Munich, Germany
Rainer Strohmenger
Phone: +49 (0) 89 21 99 41 16
strohmenger@wellington-partners.com

Bpifrance
Nicolas Jehly
Phone: +33 (0) 1 41 79 95 12
nicolas.jehly@bpifrance.fr

13advisory (corporate finance advisory)
Cédric Goarant
Phone: +33 (0)6 07 49 67 77
contact@13advisory.com

   
Record changed: 2018-08-02

Advertisement

Picture BioM Forum Translational Medicine 2018 Würzburg Germany 600x60px

To subscribe to our free, monthly newsletter for the European life sciences, please send an e-mail to info@iito.de and simply fill the subject line with the word »LSE Newsletter«

To get even more information, please take a look at our [gs] professional services offering and read the gene-sensor Product Flyer [PDF file]

Advertisement

Picture BioM Forum Translational Medicine 2018 Würzburg Germany iito 600x60px




» top