Emovi Inc. has raised $15 million in Series C round of financing led by TVM Capital Life Science and with pariticipation of StandUp Ventures and Desjardins Capital. Emovi also raised an additional $5 million in nondilutive funding.
In connection with the financing, Dr. Luc Marengere, Managing Partner, and Dr. Marc Rivière, General Partner, of TVM Capital Life Science have joined Emovi board of directors.
Founded by CEO Michelle Laflamme in 2002, Emovi offers medical solutions for joints assessments. In partnership with the CRCHUM and École de technologie supérieure (ÉTS), Emovi completed the development of the KneeKG, a unique clinical tool evaluating knee functional deficiencies linked to patients’ symptoms and pathology progression.
New funding will be used to support Emovi’s goal of driving clinical adoption for KneeKG.
Emovi’s major investors also include Fonds Bio-Innovation.
photo credit: Emovi
News Release
Emovi is accelerating its growth through a 15M$ Series C investment led by TVM Capital Life Science
Montreal, CANADA – March 4th, 2019 – Emovi announced today its partnership with TVM Capital Life Science and co-investors StandUp Ventures and Desjardins Capital to support its global commercial activities. This 15M$ Series C investment is combined with other capital for a total of 20M$.
With this capital infusion, Emovi will be able to support its goal of driving clinical adoption for its core product, KneeKG. Emovi is proud to promote the commercial expansion by offering its KneeKG product to a larger number of clinics and hospitals across North America.
“I am proud to partner with world-class venture capital funds to ensure that Emovi will become a major player in the global orthopaedic and sports medicine field. These investments enable us to support clinical adoption of our product in Canada, the United States and Europe” – Michelle Laflamme, President and CEO.
“Emovi commercializes an innovative medical device targeting a very important need: the need to better understand and treat causes of knee pain with objective data. This is a common need worldwide. Our investment will position Emovi as a world leader while concurrently keeping its corporate roots in the province of Quebec. Emovi will benefit from TVM Capital Life Science’s European and North-American network to facilitate its market access abroad.” – Dr. Luc Marengere, Managing Partner, TVM Capital Life Science.
To better meet demand, Emovi plans to continue to increase its number of employees as well as its production capabilities in the months to come. Emphasis will be placed on additional product adoption by health professionals in order to better support market expansion.
About Emovi
Emovi (Emovi.ca), headquartered in Montreal, Quebec, Canada, is a company offering medical solutions for joints assessments. In partnership with the Quebec university research community, including the CRCHUM and École de technologie supérieure (ÉTS), Emovi completed the development of the KneeKG, a unique clinical tool evaluating knee functional deficiencies linked to patients’ symptoms and pathology progression. Emovi hopes to broaden access to this technology and improve the quality of life for people struggling with diseases such as knee osteoarthritis, ligament or meniscus tears, patellofemoral pain syndrome, tendinitis and biomechanical deficiencies resulting in pain and disability.
About TVM Capital Life Science
TVM Capital Life Science is providing venture capital to the international pharmaceutical, biopharmaceutical and medical technology industries with more than 35-years of transatlantic investment track record and more than US$1.4bn raised. With its advisory, corporate finance and investment teams located in Montreal and Munich, the TVM Capital Life Science team provides investors, as well as entrepreneurs and innovation-seeking biopharmaceutical companies, access to global life science innovation and provides paths for successful tech transfer and commercialization for the benefit of patients and investors alike. The TVM Capital Life Science international team looks back on more than 140 investments and over 90 exits, including more than 45 initial public offerings on all major U.S. and European stock exchanges. The team has gained unrivalled international investment and business development experience with their track record of dedicated board work, significant contribution to global networks in the world of life science research and product development, and a direct knowledge of the local markets. More information: www.tvm-lifescience.com
About StandUp Ventures
StandUp Ventures invests in breakthrough companies led by women. We believe that womenled companies think outside the box, recruit great talent, and serve bigger markets. We invest in Canadian seed-stage technology companies with at least one woman in a C-level leadership position within the company. The fund leverages the MaRS IAF platform and was launched in May 2017 with an anchor investment from BDC Capital.
About Desjardins Capital
Nearly 45 years strong, Desjardins Capital (previously Desjardins Venture Capital) has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2.4 billion, Desjardins Capital helps contribute to the longevity of some 470 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping to create and maintain more than 58,000 jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth. For more information, visit www.desjardins-capital.com or our LinkedIn page.
Contacts:
Emovi Inc.
Michelle Laflamme
mlaflamme@emovi.ca
+1 514-907-0866
TVM Capital Life Science
Dr. Luc Marengere
marengere@tvm-capital.com
+1 514 995-3421