HTGF backs funding round for NovaPump

The all-equity funding round comprised new money from HTGF, as well as the conversion of an earlier venture loan from the firm. HTGF did not engage any external advisers to assist with the round.

BM-T is a subsidiary of the Thüringen Development Bank that manages a number of funds to back startups, as well as private equity investments in MBOs. The firm invests up to €5m across its growth strategies, according to its website.

NovaPump is currently pre-commercial, but will reach market readiness following this round. According to a statement, the firm will use the fresh capital to invest in first-man-in (FMI) trials for its heart valve produce Perkat.

HTGF invested in NovaPump from its second fund, which closed in January 2013 on more than €301m.

Previous funding
HTGF backed NovaPump in a funding round in July 2013. The company has also received a government grant from the German Federal Ministry of Education and Research to develop its Perkat product, as well as to develop a left heart pump.

Company
NovaPump develops non-invasive and percutaneous heart assist devices for acute patients, particularly those with right heart difficulties, under the product name Perkat. The company claims that its mechanical support system can be used for a maximum of 14 days. NovaPump is based in Jena and was founded in 2012.

People
High-Tech Gründerfonds – Martin Pfister (senior investment manager).
NovaPump – Ronald Reich (co-founder, CEO); Markus Ferrari (co-founder).

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• Topics
• Early-stage
• DACH
• Healthcare
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• High-Tech Gründerfonds