VCs invest €7m in CryoTherapeutics

Peppermint Venture Partners is currently investing from its €31m Charité Biomedical Fund, which it had used to make investments in CryoTherapeutics previously.

Creathor is deploying its Creathor Venture III fund, which closed on €80m in 2012.

Other investors in the round include Belgian public investor Noshaq, the Walloon region and Getz Brothers. The funding consists of both equity and debt, as well as non-dilutive cash advances granted by the Walloon region.

The fresh capital will be used to support the company's clinical trials programme, to establish an operations facility in Awans, Belgium, and for talent acquisition.

Previous funding
In 2013, High-Tech Gründerfonds (HTGF) and Peppermint led a €3m investment round for the company with participation from NRW Bank.

Peppermint led a €3.5m extension funding round in 2014. HTGF, NRW, Rainer Christine Asset Management, Getz Brothers and new investor KfW also took part in the extension.

Creathor led a €5.2m series-B in 2016. Investors NRW, Peppermint, HTGF, Getz Brothers, KfW and business angels committed alongside the VC.

Company
Founded in 2009, the company develops cryotherapy systems for the treatment of coronary artery disease, which causes heart attacks. Previously based in Cologne, the company is now based in Awans.

People
Peppermint Venture Partners – Joachim Rautter (managing partner).
Creathor Ventures – Karlheinz Schmelig (partner).
Noshaq – Joanna Tyrekidis (investment manager).
CryoTherapeutics – John Yianni (CEO).

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• Topics
• Early-stage
• Benelux
• Healthcare
• Belgium
• healthcare