Press release

Jena-based Redwave Medical GmbH closed financing round of almost 1 million EUR

Redwave Medical GmbH, a specialist in bio-signal analysis, is pleased to announce the closing of its new financing round. Redwave´s excellent progress in the field of central blood pressure measurement and the company´s compelling pipeline convinced existing investors including the lead investor bm-t beteiligungsmanagement thüringen gmbh (bm|t), the experienced business angel Dr. Gerhard Scheuch, the Stiftung für Technologie, Innovation und Forschung (STIFT) and the Sparkasse Jena Saale-Holzland to increase their investment in the company. Additionally, Redwave was able to attract the Mittelständische Beteiligungsgesellschaft Thüringen mbH (MBG) as a new investor. The capital will enable the company to continue its growth, further technical development as well as the marketing and internationalization of the first algorithm “Antares”, which is already available on the market.

“Antares” enables the measurement of central (aortal) blood pressure and the determination of arterial age using a conventional upper arm cuff. The central blood pressure describes the pressure in the aorta, which directly affects the heart and many other vital organs. Thus, central blood pressure is directly responsible for the risk of heart attack or stroke and contributes to the accurate determination of a patient’s blood pressure as well as to optimal therapy. Experts are already recommending that therapy for high blood pressure be based on central blood pressure. With “Antares”, Redwave offers a product that will make this optimal therapy broadly available.

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About Redwave Medical GmbH:
Redwave Medical GmbH develops and distributes customizable and intelligent “Medical Grade” algorithms for cardiovascular diagnostics, enabling integrated solutions and comparable results between home care and medical professionals. Redwave is active in the field of cardiovascular diagnostics with a focus on blood pressure measurement and pulse wave analysis.

About Mittelständische Beteiligungsgesellschaft Thüringen mbH (MBG):
Mittelstaendische Beteiligungsgesellschaft Thueringen mbH (MBG) is a strong partner for small and medium-sized enterprises and offers open or silent partnerships as equity capital for business start-ups, growth and succession. The MBG does not favor any specific economic sectors and provides its services for various industries and financing purposes.

About bm-t beteiligungsmanagement Thüringen gmbh (bm|t):
bm|t, based in Erfurt, is a subsidiary of Thüringer Aufbaubank and the leading address for equity investments in Thuringia, Germany. bm|t currently manages nine funds with a total volume of over 420 million euros and invests in innovative companies in nearly all sectors and in all phases of company development — from start-up and growth phases to buyouts and other succession cases.

About Foundation for Technology, Innovation and Research Thuringia (STIFT):
The STIFT supports, promotes and accompanies innovative technology-oriented and innovative business start-ups in Thuringia as part of the ThEx project. In addition, the STIFT supports selected high-tech start-ups in the field of early-stage financing as aninvestor. Here, the degree of innovation of the founding idea and the entrepreneurial potential are in the foreground of investment decisions. The regional focus of investments is in Thuringia, Germany.

About Sparkasse Jena-Saale-Holzland:
The Sparkasse has been rooted in Thuringia since 1828 and knows the wishes and objectives of the people and companies. As the largest regional financial partner, it is also important to the Sparkasse to ensure a better quality of life in the region: through the progressive digitalisation of its services, the expansion of its advisory services, public support programmes and financing. Supporting the economy, education, sport and culture through material and financial contributions is an important part of its role. For this reason, Sparkasse Jena-Saale-Holzland will continue to support business start-ups, thus laying the foundation for the jobs of the future. Recently, the Sparkasse, with the Business Angels Club Jena e.V., has established a platform for start-ups and private investors. The Sparkasse´s strong regional know-how is thus combined with excellent networks and is intended to support the region´s dynamic start-up scene.

 

The STIFT and Sparkasse Jena-Saale-Holzland invest in the blood pressure measurement of the future

Redwave Medical GmbH, a Jena, Germany based medical technology company, raised a round of funding from the Stiftung für Technologie, Innovation und Forschung Thüringen (STIFT) and Sparkasse Jena-Saale-Holzland.

Redwave Medical has developed software that allows for the measurement of aortic blood pressure as well as monitoring of the status of the arteries through standard arm cuff blood measurement devices. Aortic blood pressure is more relevant than peripheral blood pressure in terms of diagnosing and treating high blood pressure because important organs such as the heart, kidneys, and brain are directly impacted by the central blood pressure. Aortic blood pressure is therefore much more important for determining the risk of heart attack and stroke than peripheral blood pressure.

The two new investors join bm‑t, beteiligungsmanagement Thüringen gmbh, and angel investor Dr. Gerhard Scheuch in completing Redwave´s seed financing. Redwave will use the capital to complete its validation study and for its market entry in 2019.

About the Stiftung für Technologie, Innovation und Forschung Thüringen (STIFT):
The STIFT supports innovative technology companies in Thüringen within the framework of the ThEx Innovative project. Additionally, the STIFT invests in selected high-tech start-ups as a co-investor. In this activity, the level of innovation of the founding business plan and the corporate potential are the primary considerations

About Sparkasse Jena-Saale-Holzland:
The Sparkasse Jena-Saale-Holzland has been a strong and reliable partner in the region of Jena-Saale-Holzland for over 185 years. Through its large network of branch offices, customer advisors are closely positioned to the bank´s customers, and the bank is able to make important decisions quickly on location. From retail accounts to real estate brokerage and construction finance to commercial lending and advisory, the Sparkasse offers a complete array of financial services. As a public institute, the bank´s interests are in supporting the local economy and the people living in the region.

About bm|t:
Erfurt-based, beteiligungsmanagement Thüringen (bm|t) – a subsidiary of the Thuringia Development Bank, is the first address for investments in Thuringia, Germany. bm‑t currently manages eight investment funds with a total volume of 320M EUR. bm‑t invests in innovative companies with strong growth potential across all sectors and all phases of the corporate lifecycle.

About Redwave Medical GmbH:
Redwave Medical GmbH was founded in May 2017 and specializes in the fields of bio-signal analysis and medical algorithms. Currently the company is developing the first algorithm for blood pressure arm cuffs in order to noninvasively measure the central blood pressure in the aorta and monitor arterial health.