HEILBRONN, Germany--(BUSINESS WIRE)--XENiOS® AG a commercial-stage medical device company, announced today that it has received a significant cash infusion from existing investors. While the amount of investment was not disclosed, it was in the eight-figures range, led by ZFHN, which typically invests up to 10 million euros in any given transaction.
XENiOS is the recognized technology leader in minimally invasive medical devices that unite one console, XENiOS®, with next-generation lung (novalung®) and heart (i-cor®) therapies into a single platform for a market with revenue potential of nearly $9 billion.
“No other company except XENiOS is offering minimally invasive disposable lung and heart therapies on one platform,” said Georg Matheis, MD, Managing Director of XENiOS. “The XENiOS platform provides fundamental advantages with its minimally invasive lung and heart therapies. Patients are awake and mobile. Self-determined patients facilitate improved outcomes. There is no ventilator-associated lung injury and pneumonia. Additionally, the XENiOS platform maintains a physiologic natural pulse designed to protect the heart.
“This significant cash infusion empowers us to expand sales of our leading products in a highly profitable yet under-penetrated market,” said Dr. Matheis. “The XENiOS strategy is to build a highly profitable business in the US and Europe with upside potential in Asia. Our company is generating considerable revenues with a scalable business, direct sales in place in three EU countries, and global KOLs in place as product champions. XENiOS has clinically proven applications of its therapies with predictable execution. Regulatory approvals are in place (CE-marked, some products FDA-cleared, plus several Asian markets). And we are extremely proud that XENiOS will be profitable from operations in 2015,” concluded Dr. Matheis.
“We are very pleased by the progress that XENiOS has achieved,” added Thomas Villinger, CEO of ZFHN and Chairman of the Supervisory Board of XENiOS AG. “This new investment in the company will fuel its commercial expansion in Europe and the United States.”
Zukunftsfonds Heilbronn (ZFHN) is one of the largest Single Family Offices in Germany investing in start-up companies. ZFHN predominantly effects investments as lead investor in major financing rounds. The investment volume typically ranges between EUR 0.5 and 10 million per financing round. This can be an “open” or “silent” (mezzanine) participation. Currently ZFHN is invested in 20 companies (from early-stage to expansion phase).
XENiOS AG is a privately held medical technology company that is comprised of two product brands, novalung® and i–cor®, that run on a single XENiOS platform. XENiOS novalung offers the full spectrum of extrapulmonary lung support. One indication is COPD (Chronic Obstructive Pulmonary Disease). 50% of COPD patients have concomitant heart disease and 4 million undergo mechanical ventilation. They must be sedated to endure an endotracheal tube. The XENiOS novalung therapies offer an alternative to injurious, immobilizing mechanical ventilation. XENiOS i-cor is focused on heart therapies. One indication is for Cardiogenic Shock, or Decompensated Heart Failure. Given that 50% of COPD patients have concomitant heart disease, the XENiOS platform is designed for physicians to treat the same patient who either has certain singular lung or heart issues, or has concomitant lung and heart issues, with one platform of minimally invasive products that do not require mechanical ventilation, sedation, and immobility. XENiOS AG is the only company that can make this claim.