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Private equity firm for investments in healthcare companies

Ferrosan Medical Devices comprises two companies that both provide a range of innovative products used by health care professionals in the fields of surgery and diagnostics. Our technology includes Biomaterials used as haemostatic agent for surgery to control bleeding, and miniature Electromechanics used in devices for minimally invasive surgery and drug delivery.

SEED Capital is the largest early stage venture fund in Denmark. We invest in companies within Medtech and Technologies at the seed or even pre-seed stage from Denmark and southern Sweden. We invest in classic venture companies meaning companies that as a minimum will provide an opportunity for a 10x return on investment. The company should have a highly innovative solution and a scalable business model for entering an attractive market with a number of identified paths to exit.

Because of our strong partnership with the government funded innovation incubator DTU Symbion Innovation we are able to invest €250-750.000 at the early stages of a company’s development, allowing them an opportunity to prove their technology and business.

Depending on capital need, SEED Capital can invest up to €9 million in the following rounds – preferably in syndication with international investors. We take an active advisory role as an investor and will normally take the position of Chairman of the Board in the company until a skilled alternative is identified.

Sunstone Life Science Ventures’ invests in early-stage Life Science companies in the therapeutic, medical technology and diagnostics fields. Our geographical scope is Europe with particular emphasis on the Nordic countries, Germany and Switzerland.

Our point of entry differs depending on the type of Life Science opportunity. In the therapeutic field, we invest when drug candidates are in the pre-clinical or clinical phase I.  In the areas of medical technology and diagnostics, we tend to invest in companies just before the pivotal clinical trials required to support the intended use and marketing claims.

Sunstone Life Science Ventures investment strategy has a strong industry focus vis-à-vis potential buyers of our portfolio companies. Since we believe that most exits in the Life Science sector will continue to take place in the M&A space, we prefer business models suitable for this exit route. To appear on potential acquirers’ radar screens, we invest in opportunities that have the potential of becoming either a threat or a complement to existing products on the market. We look out for opportunities which target unmet medical needs in commercially attractive markets, and we seek products which, once approved, are likely to receive attractive reimbursement and pricing structures. We have a preference for companies targeting niche markets. In the therapeutic area, opportunities aimed at specialty pharma and orphan drug indications are especially interesting, whereas we consider opportunities aimed at widespread diseases already addressed by established medical treatment regimes less interesting.

We believe that the single most important factor when developing a successful company is the quality of the management team. This is not the same as saying that we only invest in savvy entrepreneurs with a strong track record. But less experienced management teams should be open to change if needed to accelerate the company.   

TKS Technology A/S (TKS), a Danish registered limited company, specialized in developing and marketing wireless interface systems which create a whole new meaning to digital control, mobility and communication. 

Having spent 10 years and approx. EUR 2.5 million on research, development and testing by selected users TKS is now ready to bring the Itongue® product to market.

Itongue® is an intra-oral device which makes the user able to control devices with the tongue. The tongue is controlled directly by the brain - not through the spinal cord. Therefore Itongue® can be used by people suffering from severe paralysis not able to use traditional controllers. Furthermore, Itongue® does not only have a number of advantages compared to other applications, it simply takes controlling to the next generation. It is the only CE - certified control of its kind.

The intra-oral device is wirelessly connected to an external control unit which can be connected to control everything from computer keyboard and mouse to an electric wheelchair.

Based on the Itongue® platform TKS currently has planned 2 more innovative products in the pipeline. The first generation of Itongue® - now ready to be marketed - requires the user to get a tongue-piercing. The second generation – presently being developed - will not require a tongue piercing and will therefore be able to address a broader market such as surgeons, military jet pilots, gamers etc. Based on the current version of Itongue®. TKS is also developing a finger controlled version which is aimed at bringing better control capabilities to disabled who still have some movement capabilities in their fingers.

Having obtained a CE approval the Itongue® is now ready to be marketed as medical device in the EU.

Total global market which can be addressed by the Itongue® product is estimated to more than EUR 200 million annually with a split of approx. 40 per cent in Europe and 30 per cent in the US and with an expected growth rate of more than 100% per cent p.a.

Management of TKS expects to obtain some sales in 2013 and meet revenue objectives for 2014 of EUR 4 million, and in 2015 of EUR 10 million. Markets will be addressed through a combination of own sales force and external partners. Costumers for the first version of Itongue® are to be found among manufacturers of different types of medical devices e.g. wheelchairs.

The Company has now entered into a phase where the present owners and management are seeking a new owner / out-side co-investor who could add the required expertise and knowledge to commercialize the Company and its products - in other words to bring TKS and its products efficiently to the market; not only domestically but also in a number of international markets. An investment amount in the region of EUR 2 million is targeted in order to be able to full fill the business plan set up by the management of TKS. 

Basis organisation

Gert Spender, Exec. MBA, CEO 

Søren Mørch, M.Sc, development engineer (electronics) 

Jan Maltha, M.Sc. IT, development engineer (software) 

Poul Hansen, M.Sc. IT, development engineer (software) 

Hugo Bertelsen & Kirsten Berthelsen, interim technical project manager

Clinical trials partners and consultants

Lotte N.S. Andreasen Struijk, PhD (scientist and inventor), principal investigator 

Bo Bentsen (dentist) system encapsulation and materials

Dirk Leonhart (dental chief technician), Aarhus Dental College

Michael Gaihede, principal clinical investigator, Aalborg Hospital

Morten Haugland (reviewer), founder of Neurodan, currently scientific specialist of Medotech 

MediQA Consulting, Internal quality assurance and regulatory

DMD-Consulting, Poul Schmidt-Andersen, Managing Partner, B.Sc.E.E, B.Comm,

Compliance with EU and US regulatory requirements

Associated researchers

Lotte N.S. Andreasen Struijk, PhD, Associated Professor AAU

Fin Bering Sørensen, Professor dr. Med.

Eugen R. Lontis, PhD, development engineer (sensor technology design)

Hector A. Caltenco, PhD student (smart dictionary for the key pad)

Daniel Johansen, PhD student (SmartHand, control of hand prosthesis)

Brugerpanel (usergroup)