Multi-organ failure: innovative 4-in-1 therapy from ADVITOS receives funding

ADVITOS, a medical device manufacturer with a unique therapy for patients with multi organ failure, completes a 20m? financing round led by Crédit Mutuel Equity, with a co-investment from the EU EIC Fund

ID: 1568038
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(PresseBox) - ADVITOS GmbH (?ADVITOS?), a Munich-based medical technology company, today announced the completion of a EUR 20 million financing round. The financing round was led by Cr

ADVITOS developed and markets the ADVOS multi-device (ADVanced Organ Support) to provide an integrated 4-in-1 multi-organ support therapy that enables simultaneous support of all three main detoxification organs ? liver, lungs and kidney ? and corrects blood acid-base imbalances. Pilot trials in critically ill patients have shown that this therapy increased survival in severe organ failure from 20% up to 50%.

Multi-organ failure causes the deaths of approximately half a million intensive care patients in Western Europe and the USA every year. This is about 60 percent of all deaths in intensive care units. Due to the Covid-19 pandemic, this number has increased to around 750,000 patients in the past year. On the other hand, conventional extracorporeal procedures such as mechanical ventilation, ECMO (extracorporeal membrane oxygenation), dialysis and liver-assist therapy only support the function of one or two organs. By treating all three organs simultaneously, and not consecutively like with existing solutions, it is a holistic approach giving the patients a much better chance to recover. The ADVOS therapy is CE marked, recognized by international experts, and is already in use in the intensive care units of over 20 hospitals throughout Germany, including a number of leading university hospitals.

ADVITOS developed key proprietary components of the ADVOS therapy and the ADVOS multi-device on its own and holds several patents related to technology and process features. With the current financing round, the company intends to further increase medical evidence through clinical trials, expand its commercialization internationally and to add additional therapy features to increase ease of use of the ADVOS multi.

ADVITOS was founded in 2005 by nephrologist Bernhard Kreymann, M.D., who is also the inventor of the ADVOS therapy. ADVITOS began as a start-up in a research laboratory in Garching near Munich. Catherine Schreiber complemented Bernhard Kreymann with her business and engineering background. Together they developed ADVITOS over the years with the help of several financing rounds with the participation of private investors, the KfW banking group and employees. The company presently employs 55 people. It has received numerous awards, including the 2020 Innovation Award Bavaria, and is listed in the Deloitte Technology Fast 50 Awards 2019.



Bernhard Kreymann, founder and CEO of ADVITOS, said: ?This financing round is a major step in the further development of ADVITOS. It will enable us to grow much faster in the future and to embark on several major development projects in both research & development and sales & marketing. Together with our new financing partners, we are also gaining an incredibly diverse set of competencies and expertise to support these projects and open new doors for ADVITOS.?

Delphine Cardi, PhD, Investment Director at Cr

Sdynamics of the company and, if required, enables us to reinvest in case of changes in the shareholder structure or future growth projects.?

Mathias Klingler, chairman of the supervisory board of ADVITOS and authorized representative of the main private investor, sees the financing round as a great opportunity to use the unique therapy from ADVITOS internationally for the further benefit of patients and thus save lives.

About Cr

Cr

Crhether in France, Canada, the United States, Germany or Switzerland.

For more information, see www.creditmutuel-equity.eu

About Cr

Cr to innovative startups to streamline their chances of success.

For more information, see www.creditmutuel-equity.eu

About Cr

One of France?s leading bank insurers, operating through nearly 4,300 branches serving 26.7 million customers, Cr

One of Europe?s strongest banking groups, its shareholders? equity amounted to ?49.6 billion and its CET1 ratio was 17.8% at 30 December 2020.

Cr

Crnque de Luxembourg, Banque Transatlantique and Homiris.

For more information, see www.creditmutuelalliancefederale.fr

About EIT Digital Accelerator

EIT Digital Accelerator supports international growth of European digital tech scaleups by helping them raise venture capital and access new markets. Since 2012, EIT Digital Accelerator?s team of venture financing and business experts has been working with 300+ companies across Europe who collectively raised over ?1 billion in investment.

www.eitdigital.eu/accelerator/

Participants in the transaction

Finance & Tax-Advisory: Eight Advisory (Marc Niclas, Jan-Ole Burchert, Manuel Wahl)

EIT Digital Accelerator (Daniel Michel)

Legal: Goodwin Procter LLP (Gregor Klenk, Joana Pamukova), Implid Legal (Beno

Heussen Rechtsanwaltgesellschaft mnH (Cornelia Weber; Gerhard Pischel), Field Fischer (Andreas Driver),

CMS (Henrik Drinkuth; Arian Nazari-Khanachayi, Frederike Volkmann), Oppenhoff (Johannes Janning)

IP: Franck Tetaz Intellectual Property, Graf von Stosch Patentanwaltsgesellschaft mbH

ADVITOS developed the CE-marked and globally patented ADVOS technology (ADVanced Organ Support) - the only therapy worldwide offering multi-organ support integrated in one single device. The ADVOS therapy improves survival of ICU patients by simultaneously supporting all three main detoxification organs: the liver, the lung, and the kidney. The solution allows fluid-based elimination of: water-soluble toxins (kidney), protein-bound toxins (liver and kidney), and CO2 (lungs). In addition, the ADVOS therapy enables treatment of acid-base disbalances through patient-individual correction of the blood pH value. The ADVOS therapy is used in intensive care units at 20 leading hospitals throughout Germany and is on its way to entering the international market. ADVITOS receives funding from the European Union''s Horizon 2020 research and innovation programme.

www.advitos.com



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ADVITOS developed the CE-marked and globally patented ADVOS technology (ADVanced Organ Support) - the only therapy worldwide offering multi-organ support integrated in one single device. The ADVOS therapy improves survival of ICU patients by simultaneously supporting all three main detoxification organs: the liver, the lung, and the kidney. The solution allows fluid-based elimination of: water-soluble toxins (kidney), protein-bound toxins (liver and kidney), and CO2 (lungs). In addition, the ADVOS therapy enables treatment of acid-base disbalances through patient-individual correction of the blood pH value. The ADVOS therapy is used in intensive care units at 20 leading hospitals throughout Germany and is on its way to entering the international market. ADVITOS receives funding from the European Union''s Horizon 2020 research and innovation programme.www.advitos.com  

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Date: 06/10/2021 - 06:34
Language: English
News-ID 1568038
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