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CorTec gains Mangold Invest as new investor and plans the entry in clinical studies
- 30 Jun 2016
- Corporate Finance
30 Jun 2016
Freiburg – Stuttgart – Munich – June, 2016 In its third financing round, the medical device company CorTec received growth capital from Mangold Invest. The recently completed investment supports CorTec to provide patients with personalized therapies for neurological diseases. With Mangold Invest, the young medical device company located in Freiburg gained a new investor that accompanies this way. Equally convinced of the success of this project are the existing investors M-Invest, High-Tech Gründerfonds (HTGF) and LBBW Venture Capital, who are participating in this financing round.
The managing partners of CorTec, Dr. Jörn Rickert and Dr. Martin Schüttler, welcome the composition of the financing round. “It is a rarity to find an investor like Prof. Dr. Klaus Mangold, who has a big experience and international network as well as a strong relation to Freiburg”, comments Dr. Jörn Rickert. “The willingness of our existing investors to participate in the round furthermore underlines the potential of our technology in a fast growing market as well as the quality of our work accomplished so far”, complements Dr. Martin Schüttler.
Carlsquare exclusively advised CorTec on its Series B Financing round.
About CorTec
Founded in Freiburg 2010, CorTec started its commercial operations in September 2011. The company develops a neurological implant that – based on the CorTec Brain Interchange Technology – measures and stimulates brain activities in long term use. Thanks to its platform architecture the technology offers diverse innovative applications in the field of therapy, rehabilitation and assistant technology. For further information, please visit: http://cortec-neuro.com/
About Mangold Invest
Mangold Invest bundles the industrial investments of the Mangold family (Stuttgart) under the management of Prof. Dr. Klaus Mangold and Dr. Christoph Mangold. Mangold Invest follows a longterm investment approach in the areas of private equity, real estate as well as agriculture and forestry. All investments are led personally and the management is either supported directly or guided through an active advisory board. The company is a subsidiary of Mangold Consulting GmbH which was founded in 2003 by Prof. Dr. Klaus Mangold, a former member of the board of Daimler and chairman of the German Committee on Eastern European Economic Relations (Ostausschuss der deutschen Wirtschaft).
About Carlsquare and Globalscope
Carlsquare and the international M[&]A network Globalscope offer integrated cross-border M[&]A consulting services for medium-sized transactions. Carlsquare – a partner led corporate finance firm – advises businesses and shareholders to realise their strategic objectives ensuring the highest level of quality. Carlsquare is based in Hamburg and Munich with 25 employees. Globalscope has 45 members in 37 countries with more than 500 professionals worldwide. For further information about Carlsquare, please visit www.carlsquare.com and www.globalscopepartners.com
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