NonWoTecc Medical GmbH, a Cologne, Germany-based medical technology company, has completed a €7m second funding round.
The company is receiving growth financing from NRW.BANK and from private investors led by founder Rainer Christine and including existing backers Rheinland Venture Capital, Kreissparkasse Köln, High-Tech Gründerfonds and KfW.
The company intends to use the funds for the product approval and launch of vascular prostheses in the peripheral and coronary areas.
Led by managing director Frank Willems, NonWoTecc Medical develops and produces artificial vascular prostheses from biocompatible high performance polymers produced in a special patented manufacturing process, which can also be applied to AV-shunts and the coating of implants such as stents. The innovation lies in the special processing of the material proven in medical technology, polycarbonate urethane (PCU).