Robocath receives an additional €1.25 million financial contribution from Crédit Agricole Innovations et Territoires (CAIT), an innovation fund managed by Supernova Invest.
In line with the company’s growth strategy, the new funding aims to increase the resources available to market the R-OneTM product and launch the development of the next generation of robotics dedicated to the treatment of strokes.
Robocath, a company that designs and develops innovative robotic solutions for the treatment of vascular diseases (heart attacks, strokes, etc.), today announces an increase in capital of €1.7 million ($2M). This is partly thanks to a €1.25 million ($1.5M) contribution from Crédit Agricole Innovations et Territoires (CAIT), a fund dedicated to technological innovation in France, managed by Supernova Invest. Co-owned by Amundi and the CEA[1], Supernova Invest is a key player in investment capital in Europe and particularly in France. Cardio participation, a holding company bringing together several business angels, also invested €450,000 ($530K). This latest financial contribution supplements the €4.7 million ($5.6M) raised by Robocath in a previous round of fundraising in May.
R-OneTM is a unique technology that optimizes and increases the safety of robotic-assisted coronary angioplasty. This medical procedure consists of revascularizing the cardiac muscle by inserting one or more implants (stents) into the arteries that supply it with blood. This type of procedure is performed more than one million times each year.
There are many benefits to R-OneTM, for both the patient and the doctor. The technology allows the surgeon to operate with extreme precision and in optimal conditions. Intuitive to use, the technology allows the surgeon to operate from a seated position and to use a portable protective screen to guard against X-rays. This first robotic platform will be marketed in Europe and the Middle East in 2018.
Thanks to this funding, Robocath will also begin researching and developing the next generation of robotic solutions. The new platform will be used to treat neurovascular diseases such as strokes; the second leading cause of death in the world after hearts attacks[2]. The new solution will also aim to improve care for these conditions.
Mathieu de La Rochefoucauld, partner at Supernova, said: “We are particularly proud of this first investment in Normandy with the Crédit Agricole Innovations et Territoires fund. This fund targets companies with great potential in terms of technology and business potential. Robocath is a good example of this commitment. In just a few years, the company has developed an unrivaled robotic solution in Europe that it will be able to market by the end of next year. Thanks to its know-how and experience, we are confident that Robocath will quickly become a key player in vascular robotics worldwide.”
Philippe Bencteux, president and founder of Robocath, said: “Supernova Invest’s commitment to us, by investing through the CAIT fund, demonstrates the potential of our technology and its many advantages. R-OneTM opens up new and exciting possibilities for remote interventions, which will help to significantly improve patient care during vascular emergencies. Soon, surgeons will be able to operate whilst taking up a position several meters away from the patient and, in the future, this will increase to several hundred kilometers, with the surgeon working from an expert center. These remote interventions will improve the management of pathologies such as heart attacks and strokes, where time is key to survival. I am certain that this technology will allow us to meet the major challenges of tomorrow’s medicine.”
ABOUT ROBOCATH
Founded in 2009 by neuroradiologist Dr. Philippe Bencteux, Robocath designs and develops innovative, high value-added robotic solutions to improve the management of the endovascular procedures performed in the treatment of cardiovascular diseases. Of these diseases, heart attack is the leading cause of deaths worldwide[3].
Thanks to its unique technological know-how, covered by 22 families of international patents, Robocath is contributing to the development of simpler, safer and more intuitive minimally invasive procedures for the benefit of physicians, patients and healthcare institutions.
Based in Rouen, France, Robocath employs close to 20 staff.
ABOUT SUPERNOVA INVEST
Newly created by the CEA Investissement seasoned funds management team, CEA and Amundi, Supernova Invest is specialized in deep-tech venture capital in life sciences, energy and industry (electronics, advanced materials, instruments…).
ABOUT CREDIT AGRICOLE INNOVATIONS ET TERRITOIRES (CAIT)
With capital amounting to €50 million ($59M) provided by Credit Agricole’s regional banks, the CAIT fund aims to revitalize regional economies by funding innovation and investment in technology companies operating within Credit Agricole’s six areas of growth: agriculture and agri-food, energy and the environment, housing, health, tourism and the sea. This fund is managed by Supernova Invest.
[1] Commissariat à l’Energie Atomique et aux énergies alternatives [French Alternative Energies and Atomic Energy Commission]
[2] http://www.who.int/mediacentre/factsheets/fs310/fr/
[3] OMS, factsheet 310, 2016
