BMDSys Capital Increase
Munich, June 18, 2007
In an initial round of funding, a consortium led by Wellington Partners is investing €6 million in Jena-based cardiac diagnostic specialist BMDSys GmbH. In addition to lead investor Wellington, IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH as well as Kuwait-based National Technology Enterprises Company are participating in the first closing.
BMDSys (http://www.bmdsys.com/) is the first company worldwide to have developed a high-resolution diagnostic system (Apollo CXS) for routine clinical application. It operates on the principle of magnetic field measurements and allows non-invasive cardiac measurements that do not expose the patient to any radiation or side effects, while simultaneously offering time and cost savings. The principle: changes in the magnetic field that occur in connection with the heart’s electrical activity are used to provide a three-dimensional graphical image of cardiac function. This allows for faster and more accurate diagnosis of cardiac arrhythmia, for example, as well as of acute and chronic consequences of coronary artery disease.
“We already know today that the Apollo CSX system developed by BMDSys enables identification of early indicators of the increased risk of sudden cardiac death,” explains BMDSys CEO Torsten Krümmel. Cardiovascular diseases are the most frequent cause of death in the industrialized countries of the world today; 100,000 people die from sudden cardiac death each year in Germany, alone. Krümmel: “We are firmly convinced that with Apollo CXS, we will also be able to make a major contribution towards identifying myocardial infarction early on.”
Serial entrepreneur Krümmel (38) had founded BMDSys in 2005 together with physicist Dr. Sergio Nicola Erné (63), a professor at Friedrich Schiller University in Jena and today the company’s Chief Technology Officer (CTO). With over 30 years of industry experience, Erné is one of the pioneers in the field of biomagnetic research; he was the initiator of the magnetic field imaging (MFI) diagnostic procedure. BMDSys will be using the first-round funding to conduct further clinical studies with the Apollo CXS system as well as to build a sales and distribution network in Europe, the United States and Asia.
Wellington General Partner Prof. Erich Schlick highlights the company’s global potential, particularly in view of scarce healthcare budgets. “We are very enthusiastic about this technology, which is unrivaled anywhere in the world, and the diagnostic opportunities it opens up. BMDSys has developed a diagnostic system that eliminates the need for thousands of costly, negative cardiac catheter procedures, as well as even more expensive yet unnecessary defibrillator implants. In addition to better patient care, the Apollo CXS System will thus also be able to contribute to the reduction of healthcare cost.” Schlick, who is taking a seat on the BMDSys Advisory Board in connection with the financing round, additionally points out that the technology from BMDSys ideally complements existing diagnostic procedures, such as computer tomography (CT) or magnetic resonance imaging (MRI).
BMDSys is the second investment within weeks that Wellington Partners is financing from its new WP III Life Science Fund. Just in late May, Wellington had invested in France-based medical technology startup Implanet Partners.
BioConnect acted as adviser to BMDSys in this transaction (June 2007).
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In an initial round of funding, a consortium led by Wellington Partners is investing €6 million in Jena-based cardiac diagnostic specialist BMDSys GmbH. In addition to lead investor Wellington, IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH as well as Kuwait-based National Technology Enterprises Company are participating in the first closing.
BMDSys (http://www.bmdsys.com/) is the first company worldwide to have developed a high-resolution diagnostic system (Apollo CXS) for routine clinical application. It operates on the principle of magnetic field measurements and allows non-invasive cardiac measurements that do not expose the patient to any radiation or side effects, while simultaneously offering time and cost savings. The principle: changes in the magnetic field that occur in connection with the heart’s electrical activity are used to provide a three-dimensional graphical image of cardiac function. This allows for faster and more accurate diagnosis of cardiac arrhythmia, for example, as well as of acute and chronic consequences of coronary artery disease.
“We already know today that the Apollo CSX system developed by BMDSys enables identification of early indicators of the increased risk of sudden cardiac death,” explains BMDSys CEO Torsten Krümmel. Cardiovascular diseases are the most frequent cause of death in the industrialized countries of the world today; 100,000 people die from sudden cardiac death each year in Germany, alone. Krümmel: “We are firmly convinced that with Apollo CXS, we will also be able to make a major contribution towards identifying myocardial infarction early on.”
Serial entrepreneur Krümmel (38) had founded BMDSys in 2005 together with physicist Dr. Sergio Nicola Erné (63), a professor at Friedrich Schiller University in Jena and today the company’s Chief Technology Officer (CTO). With over 30 years of industry experience, Erné is one of the pioneers in the field of biomagnetic research; he was the initiator of the magnetic field imaging (MFI) diagnostic procedure. BMDSys will be using the first-round funding to conduct further clinical studies with the Apollo CXS system as well as to build a sales and distribution network in Europe, the United States and Asia.
Wellington General Partner Prof. Erich Schlick highlights the company’s global potential, particularly in view of scarce healthcare budgets. “We are very enthusiastic about this technology, which is unrivaled anywhere in the world, and the diagnostic opportunities it opens up. BMDSys has developed a diagnostic system that eliminates the need for thousands of costly, negative cardiac catheter procedures, as well as even more expensive yet unnecessary defibrillator implants. In addition to better patient care, the Apollo CXS System will thus also be able to contribute to the reduction of healthcare cost.” Schlick, who is taking a seat on the BMDSys Advisory Board in connection with the financing round, additionally points out that the technology from BMDSys ideally complements existing diagnostic procedures, such as computer tomography (CT) or magnetic resonance imaging (MRI).
BMDSys is the second investment within weeks that Wellington Partners is financing from its new WP III Life Science Fund. Just in late May, Wellington had invested in France-based medical technology startup Implanet Partners.
BioConnect acted as adviser to BMDSys in this transaction (June 2007).
