Matignon Launches Major New European Device Fund

Europe has a remarkable tradition of clinical thought leaders who develop major new medical device technologies. In cardiology, the first angioplasty, coronary stent, and percutaneous heart valve procedures were all performed in Europe, as were the first spinal implants, just to name a few. Yet European device company start-up activity lags far behind the rate of clinical breakthroughs. There are several reasons for this, including the lack of sufficient numbers of experienced company executives to run these companies, the reluctance of academic clinicians to commercialize their new technology ideas, and the dearth of European venture capital willing to back these start-ups. Matignon Technologies, a Paris-based venture fund, sees this gap in financing of European device start-ups as an opportunity, and has just launched one of the largest European funds dedicated primarily to medical technology.