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RELEASE: icotec ag ​​raises $30 million in growth financing from MVM Partners

(Information sent by the signatory company).

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RELEASE: icotec ag ​​raises $30 million in growth financing from MVM Partners

(Information sent by the signatory company)

ALTSTAETTEN, Switzerland and EAST HARTFORD, Conn., Jan. 24, 2024 /PRNewswire/ -- icotec ag, the leading company in the field of innovative spinal tumor implants is pleased to announce a major milestone in its growth trajectory by establishing a strategic partnership with MVM Partners ("MVM"), a global healthcare venture capital firm. icotec markets innovative BlackArmor® Carbon/PEEK products that can offer significant clinical advantages over traditional metal implants in the context of spinal oncology, making the full potential of treatment possibilities available to patients throughout their journey. .

Since receiving FDA clearance in 2019, many designated cancer centers in the US have adopted icotec's BlackArmor® products. This investment will allow icotec to continue its impressive growth and strengthen its research and development capabilities to expand the portfolio into the neglected indications of spinal infection and osteoporosis.

"We are delighted to partner with MVM, whose deep understanding of the healthcare landscape perfectly aligns with our vision for the future," said Roger Stadler, Group CEO of icotec ag. "This partnership marks a pivotal moment for icotec as it supports us in advancing our mission to improve patient outcomes by offering a compelling alternative to 100-year-old metallic implant materials technology."

MVM has a strong track record of supporting and partnering with innovative healthcare companies and recognizes the potential of icotec technology to transform patient care. The partnership represents a vote of confidence in icotec's leadership, products and overall company history.

"We are excited to support icotec in its mission to revolutionize the spinal implant industry," said Thomas Casdagli, Partner at MVM. "icotec's BlackArmor® Carbon/PEEK implants represent a major step forward in the treatment of complex spinal diseases. For the first time, doctors have the option of being able to accurately visualize and treat patients after surgery without the artifacts and limitations of traditional metal implants. We see this as a huge step forward for patient care. We look forward to working closely with the icotec team to drive continued success and growth."

WISTAMA Finanz- und Beteiligungs AG, the family office of the Stadler family that founded icotec, remains fully invested as a majority shareholder and committed to the long-term development of icotec.

For media inquiries or further information, contact:

Remo Keller, Group CFO, remo.keller@icotec-medical.com, 41 71 757 00 96

About icotec ag

icotec is the leading company in the treatment of spinal tumors with a new generation of high-tech implants. With its BlackArmor® Carbon/PEEK implants, icotec combines cutting-edge technologies and industry experience to offer innovative and reliable solutions for spine surgeons and their patients and is dedicated to advancing the field of spinal implantation. With a track record of clinical success and a commitment to continuous innovation, icotec is poised to shape the future of spine surgery. The comprehensive product portfolio has received FDA approval and is supported by numerous key opinion leaders and cancer therapy centers around the world. More information at www.icotec-medical.com.

About MVM Partners

MVM has invested in high-growth healthcare businesses since 1997. With teams in Boston and London, MVM has a broad, global investment perspective spanning medical technology, pharmaceuticals, diagnostics, contract research and manufacturing, digital health and others. healthcare sectors. More information at www.mvm.com.

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