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Qvanteq AG Closes Series B Financing Round of $4.3 Million to Obtain Clinical Proof of Concept and CE Mark


2/12/2013 8:24:48 AM

February 12, 2013 -- The Swiss coronary stent developer Qvanteq AG closes series B financing round of 4 million Swiss Francs to obtain clinical proof of concept and CE mark

Series B financing round

Qvanteq AG today announced the successful completion of its series B financing round of 4 million Swiss Francs which has been raised from private investors. The funds will be used to obtain clinical proof of concept in a "First-in-Man" study as well as CE market approval for Qvanteq's own novel coronary stent device.

Qvanteq's promising bioactive and coating-free coronary stent

Pre-clinical in vivo studies with Qvanteq's coronary stent have shown a significant reduction of restenosis in comparison to bare metal stents (BMS) and comparable or even better results than what have been observed with drug-eluting stents (DES). In addition, the studies exhibited very fast endothelialization.

Qvanteq is therefore positioning its unique bioactive and coating-free coronary stent as a valuable alternative to DES; the observed benefits of its coronary stent potentially increase patient safety while allowing a significant reduction in Dual Anti-Platelet Treatment (DAPT) time.

Qvanteq expects a straightforward market approval process, as its groundbreaking surface technology does not involve a coating or elution of any active substance, such as the release of a drug into the patient's blood stream. Its coating-free surface technology will additionally overcome all of the problems associated with the coating technologies which are currently being applied.

About Qvanteq AG

Qvanteq AG is a Zurich, Switzerland, based medtech startup company. It was founded in 2009 as a spin-off from the Swiss Federal Institute of Technology (ETH). The company has developed a novel and groundbreaking surface technology that can be applied onto any coronary stent. In 2012 Qvanteq obtained the CTI start-up certificate. The company focuses on development of novel coronary stents. It is funded by a group of private investors. The company's development projects were/are supported by Swiss Government KTI/CTI grants.

For further enquiries, please contact:

Arik Zucker, CEO

info@qvanteq.com

www.qvanteq.com

Qvanteq AG, Technoparkstrasse 1, CH – 8005 Zurich, Switzerland



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