Frankfurt am Main/Berlin,
aescuvest, EIT Health and Surge-on Medical conducted the launch of the first European funding campaign on https://www.aescuvest.eu with an event dedicated to the aim of 'Scaling and Driving Digital Health Innovation in Europe to the Next Level' at Berlin's Charité Museum of Medical History last night. The gathering of representatives from politics, the healthcare industry, venture capital firms, media and start-up companies was an impressive line-up, illuminating potentials to further strengthen globally competitive position of Europe in one of the economically most important and innovative sectors.
Surge-on Medical targets to raise up to EUR 5 million
During the event, the go-ahead was given for the financing campaign for Dutch MedTech start-up Surge-on Medical. The rising star in the segment of surgical instruments is developing and selling fully steerable, quick detachable and easy to clean instruments for minimal invasive arthroscopy and laparoscopy. The company is setting new surgery standards to deliver better healthcare. Using cable-free technologies, they have created freedimensionally movable instruments that provide better access to surgical areas and replace the current fixed-angle instruments.
Surge-on Medical has obtained four international patents that represent a major advance in minimally invasive instruments, improving existing surgical techniques and making them more efficient. With its engineers, they are developing the future of remote-controlled robotics in precision surgery. The modular and reusable instruments are ready to be connected to robots, as validated for a US surgery robot builder. All instruments are jointly developed by a dozen active surgeons. The Steerable Punch - the first commercialized product - is approved by the Medical Ethical Committee and Instrument Sterilization Department of the largest hospital in the Netherlands.
Via aescuvest.eu the company now intends to raise EUR 3 million by ways of a prospectus-based security offering. Including a subscription reserve the maximum placement volume can reach up to EUR 5.0 million, corresponding to a 12.74 % share in the company. Investments will be bundled in an SPV, that will become one shareholder of the company and as such will fully participate in the value development of Surge-on Medical.
"The proceeds of the funding shall be used to accelerate the scaling of Surge-on Medical", explained Benno Groosman, CEO and co-founder of Surge-on Medical B.V. "The company has already sold demos at the full target price and many distributors are ready to add our products to their portfolio. With our competitively priced and easy to use platform technology we will make precision and robotic surgery available to a broad range of users."
New funding platform set to foster and fund innovations from European healthcare start-ups and SMEs by European citizens
The campaign kick-off for Surge-on Medical marks the start of a new way of public venture funding in Europe. For the first time, a cross border crowdfunding campaign based on a prospectus-approved securities offering enables private investors to invest online alongside with business angels and venture capitalists to benefit from the growth potential of early-stage growth companies. "Our ambition was, to let not stop public funding of healthcare ventures at national borders", commented Dr. Patrick Pfeffer, CEO & founder of aescuvest. "After the successful launch of the Surge-on Medical funding, we are looking forward to soon be able to present a series of exciting health innovators from all over Europe on aescuvest.eu."
Jan-Philipp Beck, CEO of EIT Health added: "The goal of EIT Health is to contribute to a stronger health ecosystem in Europe. We want to create a fertile environment for growth and innovation. Health innovation and entrepreneurship ultimately benefit the health economy and citizens. By bringing innovative ideas to market, we also help create new jobs. The cooperation with aescuvest.eu is a cornerstone for our mission, to support the most promising start-up companies out of our network to scale-up their business by a funding that is combined with a high visibility in the market, and thus to help European entrepreneurs to increase their global competitiveness."
Open to companies from across the EU, the initial funding focus of aescuvest.eu is on Austria, Denmark, Germany, the Netherlands, Sweden and the U.K.
Target amount to be raised: EUR 3 to 5 million
Pre-money valuation: EUR 33.361 million
Equity offered: up to 12.74 %
Type of investment: profit and loss participation certificates
Term: unlimited, callable at the end of the 2033 financial year at the earliest
aescuvest is the first pan-European crowdfunding platform exclusively dedicated to the health sector, a dynamic market that is large in size, shows sustained growth rates and is driven by innovation. The platform offers retail investors, business angels and venture capitalists opportunities to make entrepreneurial investments in a promising market with above average returns. For start-up companies it serves as an independent launch pad to finance and market smart ideas, with the potential to directly target up to 550,000 healthcare professionals as well as general public all over Europe. Based in the financial hub of Frankfurt, https://www.aescuvest.de was started as a platform for crowdfunding campaigns for Germany in 2015, bringing innovations in medtech, biotech, health service, digital health and health rentals to life. In 2018, the start of https://www.aescuvest.eu marked the premier of the first platform to offer cross-border equity crowdfunding for healthcare companies and investors all over Europe: https://www.aescuvest.eu
EIT Health is a network of best-in-class health innovators backed by the EU. We collaborate across borders to deliver new solutions that can enable European citizens to live longer, healthier lives. As Europeans tackle the challenge of increasing chronic diseases and multi-morbidity, and seek to realise the opportunities that technology offers to move beyond conventional approaches to treatment, prevention and healthy lifestyles, we need thought leaders, innovators and efficient ways to bring innovative healthcare solutions to market. EIT Health addresses these needs. We connect all relevant healthcare players across European borders - making sure to include all sides of the "knowledge triangle", so that innovation can happen at the intersection of research, education and business for the benefit of citizens.
EIT Health: Together for healthy lives in Europe. For more information visit: www.eithealth.eu
Founded in 2015, Surge-on Medical has developed the next generation of minimally invasive surgical instruments. They are setting new standards to deliver better healthcare. Through cable-free technologies, they have created freedimensional instruments that provide better access to surgical areas and replace current pre-bent instrumentation. Surge-on Medical has been granted four international patents which make minimally invasive instruments steerable, detachable and cleanable. The freedimensional instruments offer cable-free steerability with up to 80% fewer parts. Combined with quick detachability, the instruments can be easily cleaned in standard processes and safely reused. With their multi-patented platform technology, Surge-on Medical is currently active in three markets: arthroscopy, laparoscopy and robotic surgery. www.surge-on.eu
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Surge-on Medical B.V.
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