The GEM Group with branches in New York, Los Angeles and Paris is making a major investment in Monarch Bioimplants. The two companies revealed as much in a press release. The U.S. investment group has agreed to provide Monarch Bioimplants with a total of €20 million over a period of 36 months. According to Hansruedi Lingg, CEO of Technopark Lucerne (TPL), this is a “record amount in a funding round within TPL”. Under the agreement, the GEM Group will successively purchase shares from Monarch. GEM manages a diverse set of investment vehicles focused on emerging markets and also offers its clients some higher-risk/higher-return opportunities.
Monarch Bioimplants develops biomedical implants. Its NeuroShield is a chitosan-based biodegradable innovative membrane for the repair of peripheral nerve injuries resulting from an accident, a tumor or even surgery.
Monarch Bioimplants will use the funds to bring to market its “revolutionary” NeuroShield, the press release states. This is an FDA-cleared biosynthetic peripheral nerve regeneration technology designed from naturally occurring chitosan. NeuroShield has already been introduced in the Middle East and Africa, with signed distribution agreements in Israel and South Africa.
“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,” commented Dr 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.”