FEops, a cloud-based digital health player in the structural heart space, announces that it has secured a convertible loan of EUR 3.3m from its current investors and the EIC Fund in preparation of a larger capital round.
“We were already very proud to be selected in the highly competitive EIC Accelerator programme in 2019 and to have received a grant of EUR 3.2m. It is a seal of quality that the European Commission chooses to continue supporting us, and is now taking the step to provide equity under the form of a convertible loan with the potential of becoming a shareholder.” said Isabelle Decroos, CFO of FEops.
FEops HEARTguide is CE-marked under MDR for its TAVI and LAA workflow and FDA cleared for its LAA workflow. Clinical data from the landmark PREDICT-LAA prospective, multicenter, randomized controlled trial, presented last month at the TCT convention, conclude that FEops HEARTguide improves both procedure efficiency and clinical outcome significantly for LAA occlusion procedures.
This additional investment supports FEops in its mission to continue spearheading AI-enabled digital twin solutions to help treatment of heart disease patients with the appropriate technology at the right time and enables further expansion of FEops’ established digital twin technology in other indications.
Mr José Fernando Figueiredo, member of the EIC Fund Advisory Committee, added “ We are glad to be part of FEops’ journey to improve and expand personalized management for patients with structural heart disease. EIC Fund support witnesses the EU commitment in helping EU innovators to scaleup and unlock their talent across all of Europe’s regions.”
“We want to thank the European Innovation Council and the EIC Fund for its important catalyst role in FEops’ growth. We believe our pioneering digital twin technology, FEops HEARTguide, will play a crucial role to bring heart disease management to the next level. It is an honor to work with the EIC Fund who understands both the challenges and the huge potential of pioneering in the digital health space.” says Matthieu De Beule, PhD, co-founder and CEO of FEops.
About FEops HEARTguide™
FEops HEARTguideTM cloud-based procedure planning environment combines digital twin technology and artificial intelligence to provide clinicians and medical device manufacturers with automated measurements and first-ever insights into the interaction between transcatheter structural heart devices and specific patient anatomy. FEops HEARTguide is available in the USA for use in LAAo with WATCHMAN™, WATCHMAN™FLX, Amplatzer Amulet and in EU, UK, Canada and Australia, FEops HEARTguide is available for use in TAVI and LAAo. FEops HEARTguide has to date been used worldwide for over 6200 patients in 310 hospitals over 27 countries. Such insights have the power to improve clinical outcomes in real-world hospital settings, as well as to accelerate research and development of novel device-based solutions.
About FEops
Privately held FEops, headquartered in Gent, Belgium, is a digital health scale-up altering the course of heart disease by providing physicians with unique digital tools to treat the right patients with the right technology at the right time. FEops is supported by Valiance Advisors, Capricorn partners, PMV and the EIC Fund.
Connect with us at www.feops.com or on LinkedIn at www.linkedin.com/company/feops, or contact us via info@feops.com.
About the EIC Fund
Established in June 2020, the European Innovation Council Fund (EIC Fund) is a breakthrough initiative of the European Commission to make direct equity and quasi-equity investments (between €500.000 and €15 million) in European high impact and deep tech start-ups and scale ups. The EIC Fund provides patient capital and invests in companies from any sector, across all EU countries and countries associated to Horizon 2020. The EIC Fund aims to fill a critical financing gap and its main purpose is not to maximize financial investment returns, but to have a high impact by accompanying companies with and disruptive technologies in their growth. Its objective is to crowd in market players, further sharing risks by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding. The Fund pays particular attention to empower and support female founders as well as contributing to reduce the innovation divide among EU countries.
https://eic.ec.europa.eu/investment-opportunities_en
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