Icotec brings US investor on board

29 January 2024 09:19

St.GallenBodenseeSwiss AMCHAM SoCal

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Altstätten/Boston - Icotec AG has secured investment from MVM Partners in the USA as part of a strategic partnership. With this capital increase of 30 million US dollars, icotec plans to further expand its treatment approach for spinal tumors.

The medtech firm icotec AG, which is based in the St.GallenBodenseeArea, has secured investment totaling 30 million US dollars. To this end, the company has agreed a strategic partnership with MVM Partners from Boston, Massachusetts, further details of which can be found in a press release.

Icotec specializes in the treatment of spinal tumors. In 2019, the company received clearance for its BlackArmor implants in the USA, where it operates out of a location in East Hartford in the US State of Connecticut. MVM is active in the area of healthcare financing.

“This partnership marks a pivotal moment for icotec, supporting us to advance our mission of improving patient outcomes by offering a convincing alternative to the 100-year-old material technology of metal implants”, comments Roger Stadler, Group CEO of icotec, in the press release.

“We are excited to support icotec in its mission to revolutionize the spinal implant industry”, as Thomas Casdagli, Partner at MVM, explains in the press release, before adding that the BlackArmor Carbon/PEEK implants developed by icotec represent “a huge step forward” in the treatment of complex spinal diseases. “For the first time clinicians have the choice to be able to accurately visualize and treat patients after surgery without the artifacts and limitations of traditional metal implants”, he concludes. Together with the icotec team, MVM intends to drive further success and growth in the medtech space. ce/ww

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