FEops Closes Financing Round to Commercialise its TAVIguide Service

FEops has closed a 1.3 million euro series A financing round, led by Capricorn Venture Partners and PMV. The funding will be used to help launch the Belgian company’s first product, TAVIguide, in key European and American markets.

“FEops’ TAVIguide technology will help cardiologists and cardiovascular surgeons improve pre-operative transcatheter aortic valve implantation planning and further enhance the safety and efficacy of TAVI procedures,” said Peter Mortier, FEops chief technology officer. “While current TAVI planning relies on pre-operative imaging such as echography or computed tomography (CT), accurate measurements of the pre-operative patient anatomy are insufficient to avoid complications. By combining pre-operative CT imaging with advanced computer simulations, our clinical evidence shows the TAVIguide technology can predict how a certain medical device will interact with a specific patient. Based on these insights, the physician gets a better view on the device-patient interaction, prior to the intervention, thus allowing optimal personalized device selection and risk management.”

TAVIguide is a cloud based pre-operative planning service for transcatheter aortic valve implantation (TAVI). Part of the proceeds will be dedicated to advance clinical development of the technology and diversify the pre-operative planning services offered to include additional cardiovascular interventions.

“The current series A financing round enables us to bring this technology as a cloud service from the bench to the bedside and paves the way for developing a portfolio of physics-based simulation planning tools for other cardiovascular procedures,” added FEops CEO Matthieu De Beule. “We appreciate the support and trust of investors and are pleased to welcome Marc Lambrechts and Alexandra Tolia to our Board of Directors.”

Lambrechts, a senior investment manager at Capricorn Venture Partners, believes FEops has developed a solid long-term growth strategy.

“Reducing cost and improving outcome is a key driver for digital healthcare innovations, the main focus area of the Capricorn ICT Arkiv. With a service such as TAVIguide, complications will be reduced thanks to an improved understanding of the device-patient interaction by the interventional cardiologist. Better understanding and fewer complications will result in a better treatment at a lower overall cost,” he said in a news release.

“We are truly excited to support FEops in translating a promising technology into a series of products that can transform the way minimally-invasive cardiac valve replacement procedures are performed now and in the future,” said Tolia, Ph.D., a senior investment manager at PMV. “Through our Flanders Care Invest fund we aim at nourishing entrepreneurship to stimulate breakthrough innovations in all aspects of healthcare.”

FEops, a Ghent University spin-off founded in 2009, has developed 3-D simulation technology that provides insights for cardiovascular device manufacturers and physicians. The most advanced application is a cloud based pre-operative planning service for TAVI.

Capricorn Venture Partners is an independent European manager of venture capital and equity funds, investing in innovative European companies with technology as competitive advantage. The organization is investing out of the venture capital funds Capricorn Cleantech Fund, Capricorn Health-tech Fund and Capricorn ICT Fund. It also is the asset manager of Quest for Growth, and the investment manager of Quest Cleantech Fund, sub-fund of Quest Management SICAV.

PMV nv is an independent investment company, supporting companies that contribute to sustainable economic development in Belgium’s Flanders region. PMV collaborates with private partners either directly, via funds or public-private partnerships. Particular emphasis is placed on life sciences and care, sustainable industries, cleantech, and infrastructure for the future. PMV manages a portfolio of 900 million euros in assets. PMV also undertakes commissions on behalf of the Flemish Region.

Flanders’ Care Invest is PMV’s venture capital fund, specifically dedicated to young companies that have significant growth potential in developing innovative products, technology and services for the healthcare sector.