Monarch Bioimplants, a Luzern based biomedical startup developing a revolutionary membrane supporting the healing process of damaged peripheral nerves, attracted GEM Global Yield LLC SCS as new investor. Under the agreement, GEM will purchase common shares from Monarch.
Nerve injuries can lead to long term effects including numbness, loss of movement, and impotence. Monarch Bioimplants‘ NeuroShield is an FDA-cleared biosynthetic peripheral nerve regeneration technology designed from naturally occurring chitosan. The implant is surgically placed over the damaged nerve to provide protection and connection as the nerve heals, preventing further nerve damage and accelerating recovery. A polysaccharide widely used in biomedical applications, chitosan is fully absorbed by the surrounding tissue with no side effects.
The Luzern based biomedical implant development startup has received a €20 investment from GEM Global Yield LLC SCS, part of the Global Emerging markets group to support the development of NeuroShield. The funding is part of the share subscription and drawdown agreement, in which GEM has agreed to provide Monarch Bioimplants with capital over a period of 36 months, commencing with a potential future public offering of Monarch Bioimplants’ common stock.
Financing market entry
Monarch Bioimplants will use the funds to bring to market its revolutionary NeuroShield. The implant has already been introduced in the Middle East and Africa with signed distribution agreements in Israel and South Africa. The funds will expand distribution to the U.S., Europe, Australia, and Chinese markets.
“We at Monarch are extremely excited with this new investment as GEM is providing the financial means that we need to bring our outstanding technology to every patient,” says Rivelino Montenegro, CEO of Monarch Bioimplants. “Nerve damage causes physical and emotional pain for patients and relatives. GEM’s investment provides a solid foundation for paving the way for our technology to become standard of care and improve lives.”
Fast Track Ventures is the primary investor in Monarch Bioimplants. The agreement with GEM supports the investment company’s goal of bringing Monarch Bioimplants into successful public listing and subsequent worldwide distribution.
Global Emerging Markets is a $3.4 billion, alternative investment group with operations in Paris, New York, and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets that provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum.
(Press release/RAN)
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