TheraSolve NV closes first financing round to develop
innovative treatment adherence solution MemoPatch
Diepenbeek (Belgium), August 18, 2011 – TheraSolve NV announced today the closure of its first financing round co-led by Thuja Capital and LRM. With the investment TheraSolve will be able to develop and initiate commercialization of its innovative MemoPatch device to enhance treatment adherence.
TheraSolve NV was founded in 2009 by a team of engineers and healthcare experts who developed a smart digital touch patch technology. The management team consists of Wim De Geest, MSc (CEO), Jan De Geest, MSc (CTO) and Ivo Abraham, PhD (CSO). In connection with this financing round TheraSolve will relocate its premises to the life sciences incubator BioVille at the Hasselt University campus.
TheraSolve is developing MemoPatch, a disposable device that reminds patients to take their medications – discreetly, wherever they may be, and whatever they may be doing. Patients’ nonadherence to their medication regimens is a highly prevalent problem that severely impacts treatment outcomes. While the factors contributing to nonadherence are numerous, the most common is that patients often simply forget to take their medication.
Wim De Geest, CEO and co-founder of TheraSolve: “We are pleased to reinforce our company with two outstanding investors. Their proven expertise in the medical device and biopharmaceutical sectors will help us provide patients and other stakeholders in healthcare delivery and financing with the next generation of cost-effective medication reminder solutions.”
Dr. Debora Dumont, Investment Manager Life Sciences at LRM: “We look forward to collaborating with the TheraSolve team to translate an innovative idea into a real-life solution. MemoPatch can have a significant impact on how patients respond to their medication prescriptions. We are excited about expanding our portfolio with this promising medical technology company.”
Dr. Harrold van Barlingen, Managing Partner at Thuja Capital: “TheraSolve is built on the fertile soil of a brilliant idea, exactly the right assets, and the right people. We are very pleased that we succeeded in accomplishing this financing round and we are confident that TheraSolve will be successful in developing their first product”.
Harrold van Barlingen and Debora Dumont will join the Board of Directors of TheraSolve as Chairman and member, respectively. Wim De Geest and Walter Van Pottelberge will continue to serve as Board members.
Financial details of the investment are not disclosed.
About TheraSolve – TheraSolve NV is a medical technology company dedicated to developing and commercializing innovative, user-friendly, and cost-effective solutions to promoting medication adherence. TheraSolve’s patented technology platform will motivate broad patient populations to take their medications as prescribed, and more generally, to perform any health-promoting activity in a timely fashion. The offices and technical laboratory are situated at BioVille, the life sciences incubator at Hasselt University campus.
About LRM – LRM is a profit driven Investment Company offering entrepreneurs a unique mix of risk capital and real estate. Oxygen for growth! LRM is a generalist fund, but has built up specific expertise in such areas as ICT, Life Sciences, and CleanTech. LRM’s activities support economic development and employment in the province of Limburg. LRM focuses on all sectors and companies, from start-ups to growing SMEs to large enterprises. LRM’s activities are focused on five domains: ICT & Media, Life Sciences, CleanTech & Energy, SMEs and Large enterprises.
About Thuja Capital - Thuja Capital Healthcare Fund (TCHF) is a healthcare dedicated venture capital fund structured to invest in life sciences innovations with a focus on therapeutics, diagnostics, and medical devices. The prime focus of TCHF is on financing privately held early-stage life sciences companies located in the Benelux. TCHF is managed by Thuja Capital Management B.V., whose team has a long-standing and successful track record in life sciences investments and aims to help their portfolio companies to strengthen and grow their businesses. Furthermore, Thuja Capital Management B.V. is the exclusive manager of the Thuja Capital Healthcare Seed Fund and of AlpInvest Partners' portfolio of early stage life sciences companies.
Contacts:
TheraSolve NV
Wim De Geest, CEO
T: +32 (0)11 28 69 75
E: wdg@therasolve.com
W: www.therasolve.com
LRM NV
Debora Dumont, PhD
T: +32 (0)11 24 68 89
E: d.dumont@lrm.be
W: www.lrm.be/lifesciences/en
Thuja Capital Management B.V.
Harrold van Barlingen, PhD
T: +31 (0)30 253 9898
E: hvb@thujacapital.com
W: www.thujacapital.com