PVP closes €3m series-A for CryoTherapeutics
Peppermint Venture Partners (PVP) has joined an investor consortium including High-Tech Gründerfonds (HTGF) in a €3m series-A round for German biotech company CryoTherapeutics.
PVP's investment closed the €3m round for CryoTherapeutics, which received capital from HTGF, NRW Bank and private investors in June 2012. The company will use the funding to enter its product into the clinical development stage and move its office to Cologne.
Company
CryoTherapeutics was established in December 2009 by a team of serial entrepreneurs from the UK, US and Canada.
The company focuses on developing a catheter system, which utilises cryoenergy to treat and prevent heart attacks. The initial objective of the company is to demonstrate the clinical benefits of the treatment to heart attack patients. The system is to be used by interventional cardiologists.
People
Joachim Rautter is managing partner at PVP, while Kay Balster is investment manager at HTGF.
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