Amsterdam, the Netherlands, January 7, 2019 – LSP, one of Europe’s leading life sciences and healthcare investors, today announced its investment in Atlantic Therapeutics, the Irish medical technology company developing and commercializing innovative, garment-based pelvic floor muscle strengthening and nerve stimulation devices treating the cause of bladder leaks. The Series B round of €28 million was led by LSP, investing from its LSP Health Economics Fund 2, and included new investors Andera Partners and Atlantic Bridge Ventures, and existing investors Seroba Life Sciences and Early Bird Venture Capital.
Having recently gained FDA clearance for its INNOVO® therapy device, this latest round of funding will enable Atlantic Therapeutics to enter the US market, accelerate sales in other geographies, further develop its existing product portfolio, and expand into new clinical applications.
“INNOVO® has already transformed the lives of many thousands of people in Europe”, said Steve Atkinson, CEO of Atlantic Therapeutics. “We are delighted to have completed our Series B financing with such renowned investors and look forward to working together to accelerate the growth and value of Atlantic Therapeutics.”
“Atlantic Therapeutics’ INNOVO® provides a safe, clinically proven front-line therapy, increasing the options for the treatment of stress urinary incontinence, with the potential to significantly improve quality of life,” said Anne Portwich, Partner at LSP. “We are delighted to offer our financial, clinical and commercial support in helping this exciting company grow around the globe.”
About Atlantic Therapeutics
Atlantic Therapeutics develops professional and consumer medical devices, related software, apps and connected health technologies to treat all types of incontinence, sexual health dysfunctions, and other associated disorders by strengthening muscles and modulating nerves of the pelvic floor. INNOVO® from Atlantic Therapeutics is a unique, externally applied, patented CE device that delivers a safe, clinically effective and comfortable therapy to treat reversible clinical conditions associated with pelvic floor weakness in the comfort of the user’s own home. Learn more at: restorethefloor.com.
LSP is an independent European investment firm, providing financing for private and public life sciences and healthcare companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. Since the late 1980s, the LSP team has invested in over 120 innovative enterprises, many of which have grown to become leaders of the global life sciences industry. With over €2 billion under management and offices in Amsterdam, Munich and Boston, LSP is Europe’s leading life sciences investor. The LSP Health Economics Fund 2 invests in innovative products that can increase the quality of health care, while reducing the cost of care. For more information, please visit: lspvc.com.
For further information, contact:
Anne Portwich, Partner LSP
+31 20 664 55 00