Photonics Healthcare, a Munich, Germany-based medical device company, closed its first venture capital financing round.
The amount of the transaction was not disclosed.
The company intends to use the funds for development and testing of its patient monitor.
Led by Michael Münker, managing director, Photonics Healthcare commercializes the measurement of cellular oxygen metabolism. Its non-invasive patient monitor allows doctors to monitor oxygen inside the cells of a patient and adapt their treatments accordingly.
The company develops and tests the monitor based on exclusive licenses to the intellectual property from both the Academic Medical Center and the Erasmus Medical Center and collaborates with Erasmus Medical Center, in a Eurostars project with InnoLas Laser GmbH.