Global healthcare VC firm invests $30m in icotec

Based in Altstätten (St. Gallen ), icotec develops and produces carbon-fiber-reinforced implants for spine tumor stabilization, allowing for the most accurate and safe radiation therapy due to artefact-free imaging. Their proprietary technology BlackArmor® Carbon/PEEK allows for better delineation of the tumor from healthy tissue, optimizes radiotherapy planning and tumor treatment and facilitates clear, postoperative assessment of the site of care. These clinical benefits are attributed to the radiolucent BlackArmor material which is biocompatible and X-ray translucent.   

The company looks back at a track record of clinical success and is committed to continuous innovation. Since receiving FDA clearance in 2019, many designated cancer therapy centers in the U.S. and beyond have adopted icotec's BlackArmor product portfolio. 

Now, icotec raised $30m in growth financing from global healthcare venture capital firm MVM Partners. MVM, based in Boston and London, has a strong track record of supporting and partnering with innovative healthcare companies and recognizes the potential of icotec's technology to transform patient care. This investment will enable icotec to continue its market growth and strengthen its research and development capabilities to expand the portfolio into the underserved indications of spinal infection and osteoporosis.  

Thomas Casdagli, Partner at MVM, comments, "icotec's BlackArmor Carbon/PEEK implants represent a huge step forward in the treatment of complex spine disease. For the first time clinicians have the choice to be able to accurately visualize and treat patients after surgery without the artifacts and limitations of traditional metal implants. We see this as a big step forward for patient care. We look forward to working closely with the icotec team to drive continued success and growth."   

Beyond the strategic investment by MVM, WISTAMA Finanz- und Beteiligungs AG, the family office of the Stadler family that founded icotec, remains fully invested as majority shareholder and committed to the long-term development of icotec. "We are thrilled to partner with MVM, whose deep understanding of the healthcare landscape aligns seamlessly with our vision for the future," said Roger Stadler, Group CEO of icotec ag. "This partnership marks a pivotal moment for icotec, supporting us to advance our mission of improving patient outcomes by offering a convincing alternative to the 100-year-old material technology of metal implants."

(press releases / SR) 
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