Jolife receives 30 MSEK by investors
Lund, April 23, 2003
The medtech company Jolife AB has attracted a 30 MSEK investment from Swedestart Life Science KB and InnovationKapital. This will finance the further world-wide commercialization of LUCAS, a medical device for treating sudden cardiac arrest, plus the assemblage of additional clinical data and to further develop the product.
The product that the Lund-based company Jolife devises is a unique patented automatic chest compression/decompression device in pre-hospital care for the treatment of sudden cardiac arrest. The concept is based on clinical experience and research, conducted by leading professionals in the field.
- I am very pleased with the deal, says Semmy Rülf, chairman Jolife. This agreement will provide Jolife the possibility to commercially expand its activities and reach a clinical breakthrough. With this constellation of owners we can build a strong organization and commence active product- and method development that can make Jolife one of the leading players within cardiac arrest treatment.
- Jolife is a perfect example of what kind of companies CapMan likes to be actively involved part in, emphasizes Dr Björn Nordenvall, CapMan AB, manager of Swedestart Life Science KB. Their product is the outcome of deep clinical experience and has shown remarkable improvement in clinical outcome.
- Survival rates from sudden cardiac arrest have not improved in spite of the introduction of defibrillators 20 years ago, he continues. LUCAS has shown to be very powerful and will dramatically change the way of treating this patient category. We are facing a large, unmet medical demand and Jolife's unique solution has great remedial and commercial potential.
- Jolife as a medical instrument company has an interesting growth potential with one product on the market and a number of product developments in the pipeline addressing significant medical needs in patients with sudden cardiac arrest, says Gunnar Fernström, Investment Director at InnovationsKapital. The profile of the company and the stage of development fit well with our investment strategies.
About CapMan Group
CapMan is one of the leading private equity investors in the Nordic countries and specialises in mid-sized buyouts in various industry sectors, technology investments in the IT and telecommunications sectors and investments in life science companies. CapMan team comprises more than 70 people in Helsinki, Stockholm and Copenhagen. CapMan manages/advises funds with approximately EUR 1.653 billion in total capital. To date, the funds managed by CapMan have invested in 130 companies in the Nordic countries and exited from 50 companies. CapMan Plc is listed on the Main List of the Helsinki Stock Exchange. www.capman.com
About InnovationsKapital InnovationsKapital was founded in 1994 and is today one of Sweden´s leading early stage venture capital firms for innovative growth companies. The business, carried out from offices in Gothenburg and Stockholm, is focused on Nordic investments within ICT and Healthcare & Life Sciences - dynamic sectors that are rapidly expanding and where Nordic research plays a leading role. The capital (EUR 200 million) is managed in three funds and is provided by highly reputable Swedish and international institutional investors. Further information about InnovationsKapital can be found at www.innkap.se