EMDT_European Medical Device Technology

European Medical Device Technology, Spring 2014

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14 | Spring 2014 European Medical Device Technology emdt.co.uk newstrendsanalysis Medical technology has the advantage that companies can still make some adjustments in the quality or design of their product as they develop it. This is not as easy in drug development. If the drug has shown to be not as effective in humans as required, you have little chance to simply go back again. Failure in the clinical trial usually means the end of the active substance. Does it make sense for European medtech companies to seek funding sources overseas if they can't find an investor here? Goergen: VC firms on the U.S. West Coast appear to be rarely interested in European deals. They want to be able to reach the company within an hour, especially in the early stages of a project. One has to be very close to the deals and, for them, Europe is very far away. We were even told that Europe tends to overestimate itself in light of global competition and that American VC firms very strongly look to Asia, especially on the West Coast. If they make deals in Europe, then it is often only in collaboration with a local fund with which they already have transaction experience. The East Coast, on the other hand is probably different. They are more likely to engage directly in Europe. What are the typical requirements for European companies to appeal to U.S. VCs? Goergen: The thematic overlap between what the company offers and what the investors are looking for has to be very high. Also, companies need to be flexible. Having a U.S. connec- tion is surely no disadvantage, such as an existing FDA approval or a sales unit in the United States. The larger the U.S. reference is, the easier it is for European companies to solicit U.S. inves- tors' money. Is geographical proximity that important? Goergen: Yes, especially with early-stage deals; it is extremely important that investors can be in close contact with the man- agement. There is no substitute for face-to-face interaction. The time difference and the loss of time associated with traveling is often a hindrance. Is medical technology "made in Europe" maybe just not inter- esting enough for investors from other regions of the world? Goergen: Quite the contrary. Especially in the field of medi- cal technology, there is a very high demand for technology from Europe. Currently, we are talking to many Chinese and other Asian investors who are very interested in European companies. Their investment hypothesis is also based on the very attractive valuations of European medtechs and the fact that a technology or company transfer to Asian markets offers additional arbi- trage yields. THE ORIGINAL MEDICAL PUSH-PULL CONNECTOR Metal connectors Rugged design Sterilizable 360° EMC shielding Watertight IP 68 optional From 2 to 106 contacts Plastic connectors Sterilizable Various colour codings and keying Watertight IP 64 optional From 2 to 48 contacts Hybrid connectors Multipole Coaxial Triaxial Fibre optics Fluidic High voltage Custom configuration LEMO SA - Switzerland Phone : (+41 21) 695 16 00 info@lemo.com Contact your local partner on www.lemo.com ES430949_EMDT1405_014.pgs 04.29.2014 03:39 UBM black yellow magenta cyan

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