XenoPatch secures 7-figure funding to expand innovative therapy solutions
Halle, 01.07.2024 – XenoPatch GmbH, an aspiring medical technology startup, proudly announces the successful completion of a seven-figure pre-seed funding round. This investment underlines the confidence in XenoPatch’s innovative technology, which for the first time combines temperature-accurate heat, cold and vibration therapy in a mobile device.
The funding round was led by bmp Ventures with the IBG funds, supported by SCE Ventures, the Berlin Angel Fund and a group of experienced angel investors from the industry. With this capital, XenoPatch plans to accelerate approval as a medical device, accelerate market entry and implement further development plans.
“We are thrilled to have the support of our investors who share our vision to revolutionize thermotherapeutic treatments through innovative technology,” says Paul Thouet, CEO von XenoPatch. “This investment will enable us to commercialize our research and development, expand our market presence and thus make a significant contribution to patients and users,” adds Felix Goldschmid, CFO.
XenoPatch was founded to improve the efficiency and accessibility of thermotherapy treatments, especially in physiotherapy, and to significantly simplify the workflow. XenoPatch’s multi-patented device enables professionals and patients to make therapy sessions more flexible and effective. By integrating heat, cold and vibration, the app-controlled wearable device offers a comprehensive solution that is perfectly tailored to the individual needs of users.
The Berlin Angel Fund of the BACB, represented by Fabian Cuntze, wants to use its investment, network and expertise to help XenoPatch advance digitalization and evidence generation for therapists and our healthcare system with its innovative, sensor-equipped thermal devices.
“I am delighted to support the introduction of an important innovation for physiotherapists that makes it easier for them to combine heat and cold therapy,” says business angel York Dhein.
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The XenoPatch products will be available from Q4 2024. Further information can be found at www.xenopatch.com.
About XenoPatch GmbH
XenoPatch is an innovative medical technology startup specializing in the development of therapy solutions that combine heat, cold and vibration to improve the efficiency of therapeutic treatments. The company was founded in 2023 and is based in Halle (Saale), Germany.
About IBG funds
The IBG funds, headquartered in Magdeburg, are the venture capital funds of the country of Saxony-Anhalt – they provide capital to young, innovative technology companies with sustainable and above average growth potential, based in Saxony-Anhalt. By the end of 2023, IBG launched the new venture capital fund, RKF IV, with a volume of 63 million euros. The fund is financed by the state and the European Union and invests in innovative startups in Saxony-Anhalt in the seed, early stage, and expansion. The IBG funds are managed by bmp Ventures AG.
About bmp Ventures
With a track record of over 250 investments across nearly all technology segments, mainly in the early-stage phase, bmp Ventures is one of the most experienced venture capital investors in Germany. In addition to direct investments, bmp managed venture capital funds for institutions such as the KfW Banking Group and DEG, the German Investment and Development Corporation. Currently, bmp oversees the IBG funds in Saxony-Anhalt and employs approximately 20 experts across its Berlin and Magdeburg locations.
About Berlin Angel Fund
As an investment company of the members of the Business Angels Club Berlin-Brandenburg e.V. (BACB), we have the support, network and know-how of well over 120 active business angels coupled with the structure and financial possibilities of a venture capital fund.
About SCE Freiraum Ventures
SCE Freiraum Ventures is an early-stage VC fund that operates in close cooperation with the Strascheg Center of Entrepreneurship (SCE) and Munich University of Applied Sciences. Freiraum Ventures invests across all sectors in early-stage start-ups with a focus on university-related start-ups. Due to its proximity to SCE, founders benefit from knowledge, coaching and the entire infrastructure of the Entrepreneurship Center. Freiraum Ventures’ portfolio includes Modelwise, PANTO Health and Physiofit.
Contact
bmp Ventures AG
Philipp Kopp
– Investment Manager –
pkopp@bmp.com
XenoPatch GmbH
Paul Thouet
– CEO, XenoPatch GmbH –
Tel.: +49 157 58184974
paul.thouet@xenopatch.com
