HTGF et al invest in CorTec

Together with the seed investment, CorTec will receive public subsidies from the KMU-innovativ programme, set up by the Federal Ministry of Education and Research (Bundesministerium für Bildung und Forschung, BMBF). Total funding for the company's development amounts to €2.4m.

Cortec is developing a neurotechnological platform for measuring and stimulating brain activity. The company will use the funds to continue with its development towards a clinical application of its platform system and to bring its product to market.

Company
CorTec, a spin-off of Albert-Ludwigs University Freiburg, was founded in 2010. Its platform is able to measure and stimulate brain activity, which means it could be used to treat chronic pain or to enhance rehabilitation for stroke patients, among other applications.

The company's goal is the development of a neurotechnological implant for long-term measuring and stimulating of brain activity. CorTec's first product will be a foil electrode for clinical diagnostics. Market entry is planned for 2012.

People
High-Tech Gründerfonds' Klaus Würtenberger handled the deal on behalf of the investor.

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