ANGIODROID ANNOUNCES CLOSURE OF GROWTH-ACCELERATING €7M CAPITAL INCREASE

Angiodroid today announced the successful close of its €7 million Series A financing round to strengthen international expansion through commercial partnerships and investments in salesforce, in order to make the CO2 angiography a concrete opportunity for millions of patients worldwide.

BOLOGNA, Italy, Feb. 27, 2023 /PRNewswire/ -- Angiodroid S.p.A., a biomedical Italian company focused on developing and marketing the first fully automatic CO2 injector for angiographic imaging, today announced the successful closing of a €7mln financing round with institutional investors. Angiodroid is revolutionizing the angiography market thanks to its breakthrough technology, using carbon dioxide (CO2) as the only biocompatible alternative to Iodine Contrast Media with no allergic reaction and no nephrotoxicity. Today, more than 200 million of angiograms procedures are performed worldwide but circa 30% of people remain at risk of contrast-induced acute kidney injury.

Thanks to a new automatic CO2 dosing control system, Angiodroid is enabling safer angiograms with fewer side effects, providing imaging quality equal to the standard. The Angiodroid CO2 injector is patented in Europe and US, pending in China and commercialized in more than 55 countries worldwide. Those milestones have been reached in part thanks to important international commercial partnerships with primary MedTech companies (i.e. NGC Medical - Medtronic, Siemens Healthcare and Philips), bringing the 2022 Company turnover to €3 million plus.

CDP Venture Capital, by Evolution Fund, led the round alongside ALIAD (Venture Capital fund of the Air Liquide Group), and 8a+ Investment SGR. The financing round immediately allows the Company to reinforce its international commercial presence, to forge new international partnerships with leading distributors and MedTech companies and to support the development of Angiopulse, the innovative IABP console for passive conterpulsation therapy, increasing efficacy and improving the patient's stabilization process.

LCA Lex is serving as legal advisor to CDP Venture Capital SGR, Hilex as legal advisor to Angiodroid.

Following the round, the appointment of a new Board of Directors has been announced, including: Sebastiano Zannoli (CEO and founder of Angiodroid), Massimo Ceccarelli (more than 30 years in the medical device industries), Francesca Natali (Managing Director of META Ventures), Valerio Caracciolo (entrepreneur in the Technical Gas sector and General Manager of Linde AG in France and Italy), Andrea Venturelli (Cofounder, former CEO and CTO of Invatec sold to Medtronic) and Mario Scuderi (senior Partner of the Evolution Fund of  CDP Venture Capital SGR).

"The result achieved today demonstrates how Italian innovation is still extremely valid and internationally recognized," said Sebastiano Zannoli, Founder and CEO at Angiodroid. "Now we are ready to reach millions of patients and help them in their medical journey. Angiodroid was born as a team and will continue to reach incredible goals thanks to the commitment that each of us puts into it every day worldwide."

"Angiodroid is an excellent example of deep tech in medical devices," said Mario Scuderi, Manager of Evolution Fund, CDP Venture Capital. "We believe in the aims to revolutionize the angiography sector by making them safer for patients, resulting in fewer side effects compared to traditional contrast agents. Furthermore, our track record in recent years, even during the pandemic, demonstrates the resilience of the team and the quality of the tech, as well as the great global market opportunity."

"ALIAD is very happy to join the Angiodroid adventure. At Air Liquide, patients are at the heart of what we do. Angiodroid' solution using CO2 injection as a means to improve the healthcare journey for patients going through Angiography is aligned with Air Liquide Healthcare vision of pursuing innovation in medical gases and services to hospitals. At ALIAD, the venture capital arm of the Air Liquide Group, we believe that innovative start-ups have a key role to play in building the future of care," said Vincent Brillault, Managing Director of ALIAD.

SOURCE Angiodroid SpA