German medical technology company Protembis is set to receive €20m in venture-debt financing from the European Investment Bank (EIB) for developing a cerebral embolic protection system.
This funding is aimed at advancing the development of ProtEmbo, a device designed to safeguard patients’ brains during specific heart treatments.
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The investment will facilitate Protembis in conducting clinical trials, furthering research and development, and ensuring market access for ProtEmbo, an intra-aortic filter device.
The low-profile, non-thrombogenic system intercepts embolic material from reaching the brain’s arteries during left-sided heart procedures such as transcatheter aortic valve replacement (TAVR). This will reduce the risk of stroke and cognitive decline in patients.
EIB’s financial support forms part of the InvestEU programme, which seeks to stimulate over €372bn in additional investments in new technologies by 2027.
EIB vice-president Nicola Beer said: “This agreement demonstrates our commitment to supporting companies such as Protembis that aim to improve the health and well-being of European citizens. Their innovative technology, developed in Europe, will save patients who have to undergo heart surgery, from suffering grave side effects like cerebral embolic events.”
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By GlobalDataProtembis completed a €30m Series B financing round in March 2024.
The funds are allocated for the investigational device exemption pivotal trial of the ProtEmbo System.
Expected to enrol 250 to 500 patients across Europe and the US, the study aims to test the ProtEmbo System’s ability to provide complete three-vessel coverage of the cerebral arteries.
It will compare the system with a hybrid control group, half of whom will receive no cerebral embolic protection and the other half will receive Boston Scientific’s Sentinel CEP, which covers only two of the three cerebral arteries.
