Consortium provides €7m funding for NonWoTecc

Also a consortium of private investors participated in the round.

The investors were convinced by the firm's proprietary technology platform, which can be used for prostheses production and medical applications such as stents.

The investment will be used to fund the product approval and launch of vascular prostheses in the peripheral and coronary area. Additionally, the production system will be expanded and the firm will further pursue marketing and commercialisation of its technology.

Company
Cologne-based NonWoTecc Medical GmbH is a developer and manufacturer of vascular prostheses from biocompatible high performance polymers. The prostheses can be used to replace natural vessels, or as a vascular bypass and is particulary useful in coronary vessels.

People
Frank Willems is managing director and Thomas Raueiser is investment manager at NRW.BANK. Simon Schneider managed the deal for HTGF.

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