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Taiwanese medical device startup APrevent announced the completion of their D-round fundraising on April 2nd, securing $6 million. This round was led by Taiwania Capital, a company focusing on high-tech and biotechnology. APrevent aims to expand its presence in the European, North American, and Southeast Asian markets with this national-level funding.
Established in 2014, APrevent addresses the condition of 'glottic insufficiency' through its product APrevent® VOIS. Glottic insufficiency refers to the incomplete closure of the vocal folds, resulting in difficulty speaking, breathy voice, and potential risk of aspiration of saliva or food into the airway due to the inability of one side of the vocal folds to fully close. This condition can be triggered by stroke, Parkinson's disease, or post-surgical nerve damage.
Unlike conventional methods such as using autologous fat or hyaluronic acid as fillers, or directly implanting silicone blocks or titanium metal for thyroplasty, APrevent employs a physical approach by implanting a 'self-expandable balloon' in the throat for healing. APrevent® VOIS utilizes a blend of medical-grade silicone and titanium metal, known for their inert and hypoallergenic properties, to address the issues of frequent follow-up visits or secondary surgeries associated with the existing solutions on the market.
APrevent® VOIS obtained the European CE certification in 2019 and is currently utilized through insurance coverage in countries such as Germany, Austria, the United Kingdom, and Finland. With over 100 implants worldwide, it serves as the foundation for the next phase of APrevent's expansion.
Since obtaining certification in 2019, Europe has remained a focal point for APrevent. With this infusion of funding, the aim is to pivot towards Western Europe initially, and then move towards the Nordic region and even Central and Eastern Europe. Ming Chao Yang, managing partner of Taiwania Capital's Central and Eastern Europe fund (pictured on the right), emphasizes that Taiwania Capital's presence and network within the medical device industry in Central and Eastern Europe could be instrumental in APrevent's exploration of the European market.
In addition to the European market, APresent plans to intensify its expansion into other markets this year. For example, they have already applied for FDA clinical trials in the United States. Additionally, as most Southeast Asian countries follow the CE Mark policy (products with CE certification can be used in those countries), it is also considered one of their target markets. For instance, APresent obtained certification in Malaysia in September 2023.
As for the AI voice app AiSpeak developed by APresent for patients with articulation disorders, the team stated that after a year of adjustment and development, the product was successfully launched at the end of last year. However, it is currently focused primarily on the Chinese-speaking market for promotion.
Taiwania Capital's General Manager, Jia Sheng Wong (pictured third from the right), stated that APresents' product represents a revolutionary breakthrough in treating patients with glottic insufficiency, and Taiwania Capital is pleased to invest in it. APresent's Founder and CEO, Kuan-Min Ho (pictured third from the left), described 2024 as a pivotal year for the company, emphasizing that this funding injection marks an important turning point.
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