Hepa Wash GmbH (Hepa Wash) announced the successful closing of its Series-A financing round, raising €3.8m from a syndicate of new and existing private investors as well as the KfW.
Hepa Wash, a medical device company developing an innovative liver assist device, announced today the closure of its € 3.8m Series-A financing round. This financing will allow Hepa Wash to develop the first generation machine to start clinical studies in spring 2010.
Bernhard Kreymann, CEO of Hepa Wash comments: “We are very happy and proud that we were able to successfully close our Series-A financing round. Despite the very difficult economical situation we were able to attract a highly distinguished group of long-term committed private investors experienced in the medical device sector, as well as the KfW to invest in the company and its technology. The Hepa Wash® therapy has been very successfully tested in two Preclinical Studies. These results gave us convincing evidence to continue the development of the Hepa Wash procedure for studies in patients starting in spring 2010. Hopefully, in 2011 we will have a new proven treatment to reduce the very high death rate of liver patients on the intensive care unit.”
Hepa Wash GmbH, a Munich-based medical device company, is dedicated to the development and commercialization of its innovative liver assist device to meet the urgent need for an alternative therapy for liver failure. The company was founded in 2004 and received initial funding from private investors as well as grants from the Bavarian Endowment for Research (Bayerische Forschungsstiftung) and the Bavarian State Office for Economics (Bayerisches Staatsministeriums für Wirtschaft, Infrastruktur, Verkehr und Technologie).
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