The European Investment Bank (EIB) has granted €20M in venture-debt financing to Protembis, a German medtech company, to develop the “ProtEmbo” cerebral embolic protection system. This next-gen device aims to protect the brains of patients undergoing certain heart treatments.
This investment is part of the InvestEU programme, which looks to trigger over €372B in additional investment in new technologies by 2027. The agreement aligns with InvestEU’s goals of promoting research, development, and innovation.
EIB Vice-President Nicola Beer, says, “This agreement demonstrates our commitment to supporting companies such as Protembis that aim to improve the health and well-being of European citizens. Their innovative technology, developed in Europe, will save patients who have to undergo heart surgery, from suffering grave side effects like cerebral embolic events.”
What does Protembis offer?
Protembis is a privately held medical device company focused on developing the ProtEmbo Cerebral Protection System. This system aims to protect patients from brain injury during left-sided heart procedures, such as transcatheter aortic valve replacement (TAVR), thereby improving patient quality of life and reducing healthcare costs.
The ProtEmbo System, currently undergoing clinical investigations, is an intra-aortic filter that shields the entire brain from embolic material. It is delivered through the left radial artery, ensuring optimal placement and avoiding interference with TAVR equipment.
In March 2024, Protembis completed a €30M Series B financing round to advance its FDA-approved Investigational Device Exemption study, the ProtEmbo trial.
This study will enroll 250 to 500 patients undergoing TAVR in Europe and the US, comparing the ProtEmbo system’s effectiveness against a hybrid control group, including the current predicate system called “Sentinel”.
Capital utilisation
The EIB’s funding will support clinical trials, research, development, and market access for the ProtEmbo system in Europe, the US, and other regions.
ProtEmbo is designed to deflect embolic material away from arteries leading to the brain during left-sided heart procedures, such as transcatheter aortic valve replacement (TAVR), reducing the risk of stroke and cognitive decline.
TAVR, a minimally invasive procedure to replace a narrowed aortic valve, is expected to treat around 430,000 patients with severe aortic stenosis globally by 2025. However, TAVR carries a risk of dislodging debris from the aortic arch and old aortic valve, which can travel to the brain and cause blockages, leading to strokes or cognitive decline.
The ProtEmbo device, inserted through an artery in the left wrist, lines the aortic arch to shield the brain from such debris.
Protembis co-CEOs Karl von Mangoldt and Conrad Rasmus say, “We are pleased to announce the signature of this agreement with the EIB. We would like to recognise the hard work, skill and professionalism of the EIB team while thanking our existing investors and our board for their unwavering belief in the benefits of this additional financing facility.”
Brief about the European Investment Bank
The European Investment Bank (EIB), owned by EU Member States, provides long-term finance to support EU policy goals, focusing on climate, development, innovation, SMEs, infrastructure, and cohesion.
It collaborates with EU institutions to promote European integration and support policies in over 140 countries.
The InvestEU programme leverages private and public funds to support the EU’s sustainable recovery and policy priorities like the European Green Deal and digital transition. The programme comprises three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal.
The InvestEU Fund, implemented through financial partners using a €26.2B EU budget guarantee, aims to mobilise at least €372B in additional investment by increasing partners’ risk-bearing capacity.
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