Implant firm gets fresh wave of investment as it gears for product launches  

2003.07.31
Neurodan, which develops implants for stroke and sclerosis patients, has received a new cash injection from its investors

Neurodan, which develops implants for people affected by sclerosis and stroke, has received a DKK 18 million (USD 2.8 million) cash injection from investment companies NOVI, Dansk Innovationsinvestering, and The Novo Nordisk Foundation. Neurodan is aiming to raise an additional DKK 35 million (USD 5.4 million) in capital from other investors. The news is reported by financial daily newspaper Børsen.

 

Neurodan is set to launch its first product, ActiGrip, in Europe and US in September this year. ActiGrip is able to re-establish signals from damaged nerves by means of a surgically implanted medical device. Stroke patients who have lost the ability to grip by hand are able to regain the lost function by having the ActiGrip device surgically implanted in the arm. Neurodan's follow up product, ActiGait, is a foot drop correction system implanted in the patient's heel and has been developed for people with walking impairments. ActiGait is expected to be launched Q2 2004.

 

Neurodan hopes to establish contact with further investors. MD Göran Andersson is convinced that investors will recognise the potential in the medical devices industry, particularly as time period from research to launch is significantly shorter for the biotech industry.

 

Neurodan > www.neurodan.com

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