🇫🇮 Askel Healthcare to raise 5 million euros for clinical research of its COPLA® – implant to treat knee pain caused by cartilage damage
Press release from Askel Healthcare
Askel Healthcare, the Finnish medical technology company offering a new method for the treatment of knee cartilage damage, has started a fundraising campaign to raise up to 5 million euros to finance clinical trials of its COPLA® implant. The public phase of the ongoing fundraising campaign started today and closes on 18 June 2023. An investor meeting will take place on 24 May 2023 at 16:00 EEST at VALO Hotel & Work and online.
Askel Healthcare’s COPLA® implant is a new biodegradable implant for the surgical treatment of cartilage damage in the knee. Askel Healthcare is targeting the global cartilage repair market with the COPLA® implant which is estimated to be up to 3 billion USD. The company aims to become the global standard of surgical knee cartilage repair.
Key highlights of the share issue:
– The company is offering 7.56-21.42% of equity for EUR 8.10 per share with a minimum investment of 50 shares. Shares are offered globally through brokers Invesdor GmbH and Oneplanetcrowd B.V. Additional details are available on the campaign website at https://www.invesdor.com/rounds/f589c08e-3245-4ad9-ba03-96c3277b0c43#/.
–Â The subscription period is 16 May-18 June 2023.
– Askel Healthcare’s mission is to keep people in motion through its universal COPLA® implant, a ground-breaking innovation for repair of knee cartilage damage. It is easy to implant and enables fast recovery to pain-free activity. The implant is a result of more than ten years of orthopedic and tissue engineering research at the University of Helsinki and Tampere University in Finland.
– The company is currently in the clinical investigation phase. Its primary goal is market authorization for the COPLA® implant and product launch in the US by 2028.
–Â Key investment highlights:
(i) The global knee cartilage repair market is estimated to be up to 3 billion USD;
(ii)Â Knee cartilage does not have the capacity to heal on its own, and untreated knee cartilage damage is one of the main reasons for developing osteoarthritis. So far, there is lack of reliable and accessible treatment options for knee cartilage repair. The long-term results of the most common treatment method currently available, microfracture, are insufficient, and new methods that have entered the market are expensive;
(iii)Â The company’s own cost-effective and scalable in-house production and moderate supply chain costs enable an effective global business model;
(iv)Â Askel Healthcare has an extensive global network of top experts and key opinion leaders in knee cartilage repair.
– Key advantages of the COPLA® implant:
(i)Â Fast recovery through full weight-bearing on the operated leg immediately after surgery;
(ii)Â Affordability; surgical simplicity; universal.
(iii)Â Long-term clinical results as a result of good repair tissue quality driven by timely mechanical loading of the repaired tissue site.
–Â Key use of funds:
(i) Demonstration of safety of the COPLA® implant;
(ii)Â Authority approval for the main clinical trial aiming for market authorization;
(iii)Â Strengthening the Intellectual Property Rights (IPR).
A more detailed description of the share issue is presented in the Information Memorandum here https://www.invesdor.com/rounds/f589c08e-3245-4ad9-ba03-96c3277b0c43#/.
“Askel Healthcare is on a major mission: keeping people in motion. Knee pain is extremely disabling and the number one factor preventing people from doing physical activities they love. To solve this universal problem, we have developed the COPLA® implant. It works together with the biological environment of the knee, allowing the joint surface to repair itself. It is the only cartilage repair method that allows the patient to place full body weight on the operated leg immediately after the surgery. This shortens the recovery time and enables patients to return to their daily activities faster. Moreover, the mechanical stimuli resulting from physical activity is paramount for cartilage tissue to rebuild itself and thus for long-term clinical effects. Together with our world-class network of clinicians, we aim to be the global standard in surgical knee cartilage repair,” said Virpi Muhonen, CEO of Askel Healthcare Ltd.
“Developing health technology requires money and patient investors. Crowdfunding is a vital source of equity funding for MedTech companies like Askel Healthcare, as venture capital investors in this field are almost non-existent in Finland. Investors on the Invesdor platform have shown interest in healthcare companies in recent years, as these have significant return potential when everything goes right,” comments Mari Lymysalo, Managing Director of Invesdor Oy.
Invitation to investor event on 24 May 2023 at 4:00 p.m. EEST
Askel Healthcare invites investors, analysts and media to an investor event on 24 May 2023 at 4:00 p.m. EEST, where the company management will present the company, its strategy and the ongoing share issue, and answer questions from the audience. The hybrid event will be held in English at VALO Hotel & Work at Mannerheimintie 109, 00280 Helsinki. Participants can also join the event online.
To register for the event, please send an e-mail to [email protected]. After successful registration, a link to the online event will be sent to online participants who have registered in advance for the event. The event materials will be sent to registered participants after the event. For additional information, please contact Askel Healthcare CEO, Virpi Muhonen at [email protected].
Additional information:
Askel Healthcare, CEOÂ Virpi Muhonen. Tel. +358 40 489 3840
Invesdor Finland, CEOÂ Mari Lymysalo. Tel. +358 40Â 356 6160
About Askel Healthcare
Askel Healthcare is a Finnish medical technology company set to transform surgical knee cartilage treatment and recovery. Our mission is to keep people in motion through our universal COPLA® implant, which is a ground-breaking innovation for the repair of knee cartilage defects. For more information, visit: www.askelhealthcare.com and https://youtu.be/RSZwLWwfwe8.
About Invesdor
Invesdor Group is among the largest European investment and financing platforms, with over €436 million in funding volume. It currently operates in Finland, Germany, Austria and the Netherlands. Invesdor’s digital investment platform offers tailor-made financing solutions for unlisted companies. For more information, visit: https://www.invesdor.com.
Originally published on 16 May.
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