Kurma et al. invest in MedLumics
Kurma Partners has invested in a €4m extension round for MedLumics, which specialises in ablation systems for the treatment of atrial fibrillation.
This investment is part of a larger round that raised €14m in October 2020, led by Asabys Partners, along with VI Partners Swiss Innovation and CDTI Innvierte Economía, Andera Partners, Caixa Capital Risc and Innogest Capital II. With the addition of this extension, the round has now reached €18m.
As part of the deal, the company also announced the appointment of Rich Ferrari as chair of the board of directors. Ferrari has been CEO of two publicly traded medical technology companies, and co-founder and managing director of De Novo Ventures.
Current chair, Andera's Olivier Litzka, will assume the role of vice-chair.
MedLumics plans to use the financing to initiate first-in-human regulatory clinical studies and scalable product manufacturing of its flagship product, AblaView.
Previous funding
In December 2011, Spanish venture capital firm Ysios Capital Partners led a €3.5m series-A for MedLumics alongside Caixa Capital Risc.
A venture capital syndicate led by Edmond de Rothschild Investment Partners (EdRip) invested €34.4m in the business in March 2017. Italian GP Innogest and Ireland-based Seroba Life Sciences participated, alongside an undisclosed strategic investor, while previous backers Ysios and Caixa Capital Risc also provided financing.
As part of the deal, EdRip partner Olivier Litzka and his peers Claudio Rumazza from Innogest and James Green from Seroba joined the company's board of directors.
Company
Founded in 2009 and based in Madrid, MedLumics specialises in the design and development of an optically guided radiofrequency ablation system for the treatment of atrial fibrillation.
Its flagship product, AblaView, allows the operator to directly assess both the positioning of the ablation catheter on the myocardium and the continuity and transmurality of the ablation. It displays lesion creation in real-time providing the physician with direct visual confirmation of conduction tissue denaturation.
People
MedLumics – James Greene (CEO).
Kurma Partners – Peter Neubeck (partner).
Andera Partners – Olivier Litzka (partner).
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