Protembis’s U.S. Success Story
How this SMB from Germany in the MedTech industry made it in the U.S.A
Country Of Origin Germany
U.S. HQ. To be announced
Industry MedTech
Year Founded 2013
Number Of Employees About 15
Annual revenue $1.2M
About Protembis
Protembis is a medical device start-up based in Germany that was established in 2013. The company develops a novel catheter-based filter device for use during cardiac interventions. The ProtEmbo, the primary device produced by the company, is designed to minimize the risk of stroke and other neurological injuries during these interventions. Mainly, this should be during catheter-based heart valve implantations (TAVR/TAVI). The filter made by the company’s technology blocks embolic debris from entering the blood vessels leading to the brain. Remarkably, the first safety and feasibility of the ProtEmbo device were demonstrated in a first-in-human study in 2017/2018. A review of the procedure revealed that the product reduces the risk of brain injury by up to 90 percent.
Expanding to the USA
This fast-growing medtech startup was founded with a vision to reduce the risk of cerebrovascular events. They aim to improve outcomes and make Transcatheter aortic valve replacement (TAVR) even safer. That is especially in light of TAVR shifting to younger and lower-risk patients. Ideally, the ProtEmbo System is an adjunctive device used during TAVR and removed after successful completion of valve implantation. ProtEmbo is an intra-aortic filter device that is made to deflect embolic material arising during TAVR away from the cerebral circulation.
In July 2017, Protembis joined hands with German Accelerator Life Sciences program For the US expansion plan. With this agreement, the company will aim to accelerate the clinical development plans for its cerebral embolic protection device. Protembis also indicated that mentors from the GALS program would aid its US expansion plan. That is an initiative supported by the German Federal Ministry for Economic Affairs and Energy.
For the US expansion plan, the company embarked on enhancing the ProtEmbo. The ProtEmbo is now able to minimize up to 90 percent of the risks of embolic cerebral lesions during minimally invasive cardiovascular interventions. The co-founder and CEO of Protembis, Conrad Rasmus said that they were very excited as a company to be accepted into the GALS program. He noted that this would be a testimony to the ProtEmbo system and the company’s development strategy.
He also acknowledged how the board network and expertise of GALS would give them a significant opportunity for the company to expand to the US. The program will also help us establish further partnerships with other US companies and investors. The US expansion plans will assist in making the ProtEmbo devices available for patients and providers in the North American markets. The FDA recently approved the product, and there is now a validated regulatory pathway to market in the US.
Protembis has strong leadership and technical team. Also, the company has experienced development and clinical partners. The company will utilize this specialist to spearhead US expansion. Moreover, the world’s renewed and leading physicians, engineers, and industry experts are an integral part of the Protembis team. Protembis is sponsored by Germany’s Federal Ministry of Education and Research (BMBF) and by the Federal Ministry for Economic Affairs and Energy (BMWi).
Funding the US Expansion
In October 2018, Protembis closed an oversubscribed $10 million Series A round. That was with the participation from Abiomed Inc and the Seed Fonds III for the region of Aachen. Moreover, this round on investing attracted Mönchengladbach GmbH & Co. KG, Coparion GmbH & Co. KG, family offices and angel investors.
The company will utilize these funds to bring its product to market maturity with this round. The company also plans to conduct further clinical studies in heart centers in Europe and the US. The company has also indicated interest to bring the ProtEmbo device to commercialization. In the next few years, the global market will see the invention put up for sale.