The Medical technology company Advitos based in Munich Technology Center receives the fresh funding from a financing round led by Crédit Mutuel Equity Deutschland and Crédit Mutuel Innovation. Additional funding comes from the European Innovation Council fund. Bernhard Kreymann, founder and managing director of Advitos, says:
"This financing round is a major step for Advitos' further development and will enable us to grow much faster than before and tackle several major projects in both research and development and marketing and sales. With the new financing partners, we are also gaining an incredibly diverse set of skills and expertise to support these projects and open new doors for Advitos."
Advitos helps patients with multiple organ failure
The Munich-based company has developed the Advos medical device, which supports all three main detoxification organs—liver, lungs, and kidneys—simultaneously and corrects acid-base imbalance in the blood. Pilot trials in critically ill patients have shown that this therapy increases the chances of survival in cases of severe organ failure from 20 to 50 percent, according to the company. In Western Europe and the USA alone, multi-organ failure is responsible for the deaths of around half a million patients receiving intensive care each year. This represents around 60 percent of all deaths in intensive care units. In the wake of the COVID-19 pandemic, this number rose to around 750,000 patients last year. In contrast to conventional procedures such as mechanical ventilation, ECMO, dialysis, and liver replacement therapy, all organs are treated simultaneously, which is intended to significantly improve the chances of recovery. Advos therapy is already being used in the intensive care units of 20 hospitals in Germany.
The company was founded in 2005 by nephrologist and current managing director Bernhard Kreymann. Advitos currently employs around 55 people. It was awarded, among other things, the Bavarian Innovation Award 2020 excellent.
