Innovation Industries’ portfolio company Encapson successfully raises Series B financing to boost the market introduction of Sono-Coat™ and accelerate its growth
4 August | Encapson
Innovation Industries’ portfolio company Encapson successfully raises Series B financing to boost the market introduction of Sono-Coat™ and accelerate its growth.
First market introduction by year end 2016.
Enschede, August 1, 2016 - Encapson BV, a Dutch medical device coating company based in Enschede has raised a Series B financing round to boost the market introduction of Sono-Coat™; an echogenic coating to enhance the ultrasound visibility of medical devices such as needles and catheters. Sono-Coat™ is based on the use of acoustically reflective microspheres in a coating matrix. Sono-coated™ catheters and needles reflect more of the ultrasound signal back to the ultrasound probe providing unsurpassed ultrasound images. Twente Technology Fund, a fund managed by Innovation Industries and Encapson's first and major investor, participated in this financing round with PPM Oost, NextGen Ventures and other investors.
The number of ultrasound guided minimally invasive procedures is growing rapidly. The ultrasound equipment is getting better and better, but the functionality of echogenic medical devices is not keeping pace with this trend. The medical device industry is looking for tools to improve the functionality and ease of use of their ultrasound-guided catheters and needles. Encapson provides Sono-Coat™ echogenic coating services to the medical device industry and already established collaborations with leading international Med-Tech companies. The global medical device market for ultrasound-guided procedures has a value of more than $4 billion and is showing strong growth rates. Encapson specifically targets high-end medical devices such as biopsy needles, CVC, PICC and regional anaesthesia catheters. In these market segments the Sono-Coat™ technology provides the highest added value.
Interventional radiologists, endoscopists and many other clinicians performing ultrasound-guided procedures will shortly have access to Sono-Coat™, a technology that significantly facilitates the execution of these procedures. Insurance companies and hospitals are likely to support the shift to US-guided procedures as it reduces costs in terms of hospital stay and requires cheaper equipment than radiation-based imaging techniques. Ultimately, the patient will benefit from an improved clinical outcome and less radiation exposure.
“We are very pleased with this investment, which allows us to move the company to the next stage says Heico Breek, CEO of Encapson. We now have the means to strengthen the company’s infrastructure, increase the production capacity and accelerate the market introduction of Sono-Coat™”.
Innovation Industries' partner and Encapson's supervisory board member Harm de Vries is enthusiastic about the investment: “Since our first investment Encapson has developed a fantastic product portfolio and is working together with several leading needle and catheter manufacturers to enhance the ultrasound visibility of their devices. I'm looking forward to my continued collaboration with the Encapson's management team.”
Note for the press.
About the Encapson
Encapson, a Dutch medical coatings company is focused on improving the visibility of medical devices used in ultrasound-guided minimally invasive procedures such as biopsies and central venous catheter insertion. Our Sono-Coat™ technology is based on the use of acoustically reflective microspheres in a coating matrix. Sono-coated™ catheters and needles reflect more of the ultrasound signal back to the transducer probe providing unsurpassed ultrasound images. We are working closely with the medical device industry to improve the ultrasound visibility of medical devices. In collaboration with our partners we are developing the gold standard for ultrasound-guided medical procedures. As the front-runner in echogenic coatings our goal is to become the preferred provider of echogenic coatings for the medical device industry. Our ultimate goal is to assist the physician in improving patient outcome.
For more information please contact us
Or visit www.encapson.com
About Innovation Industries
Innovation Industries ('ii') is an investment firm that invests in scalable high tech companies that have a leading market position and/or the potential to grow rapidly into successful businesses. ii focuses on technology and its commercialisation and invests in all stages of development; from early stage to later stage/established mid-market companies. Innovation Industries’ team has deep scientific bench strength and proven track record to locate and recognize technologies that can have a positive future impact. During the past decade, ii has built more than 18 high-tech companies in the Netherlands. It has co-founded more than 60% of its portfolio companies and is first-investor in all of them. Among the companies that we co-founded are: ArGEN-X (ARGX), Sigmascreening, 4Silence and Caelus. Innovation Industries currently manages three independent venture funds. Encapson is a direct investment by the Twente Technology Fund (www.twentefund.nl).
For more information please contact us:
Or visit: www.innovationindustries.com