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Occlutech Announces Closing of 15 Million Euro Financing



8/24/2011 6:47:14 AM

Occlutech Announces Closing of 15 Million Euro Financing

PR Newswire

JENA, Germany, August 24, 2011 /PRNewswire/ --

Occlutech, a leading European developer of medical implants treating structural heart disease such as PFO, ASD and LAA today announced the closing of a 15 million Euro investment into Occlutech. The investment was lead by Hong Kong based Interlink Investments Ltd. and subscribed by investors as well as Occlutech distribution partners from Japan, Switzerland, Ireland, Austria and Turkey.

Tor Peters, CEO, said in a statement; "This investment will allow us to accelerate our R&D and bringing new, relevant products to the market in the near future. In addition we expect substantial payments by AGA-St.Jude as a result of litigation initiated by AGA in 2006 and culminating in a win for Occlutech in the German Supreme Court in 2011. The additional funding will allow us to aggressively respond to any new, similar litigation initiated in an attempt to divert our attention and resources from creating relevant products that support our customers in their quest to improving and saving patient lives."

SOURCE Occlutech


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