Gilde Healthcare leads USD 77 million financing round of hypertension company Ablative Solutions

GIlde Healthcare

Utrecht (The Netherlands), Boston (United States) – Ablative Solutions, Inc. (Kalamazoo, Michigan), a medtech company pioneering new approaches for the treatment of hypertension, today announced the first close of its USD 77 million Series D funding round. The round was led by Gilde Healthcare and co-led by existing investor BioStar Ventures and an undisclosed new strategic corporate investor. Existing investors, including Michigan Accelerator Fund, Novus Biotechnology and other individual investors rounded out the financing.

Funds from the round will be used to complete clinical trials in support of U.S. and European regulatory submissions for the company’s minimally invasive renal denervation technology designed to help reduce blood pressure for people with uncontrolled hypertension.

Ablative Solutions’ alcohol-mediated renal denervation procedure is performed using the investigational Peregrine System Kit™, which is engineered to target nerves known to influence the body’s regulation of blood pressure. The Peregrine Kit delivers dehydrated alcohol in small doses directly to the space outside of the renal artery to block the overactive signaling of the sympathetic nerves. This targeted treatment is designed to be performed in a rapid, straightforward procedure with minimal pain or discomfort for the patient.

Drug therapy and lifestyle changes are the most common treatments for hypertension. Medication non-adherence remains a serious and underappreciated limitation of drug therapy. More than half of those treated do not achieve their target blood pressure, highlighting the need for improved therapeutic options.


About the Peregrine System Infusion Catheter
The Peregrine System Infusion Catheter has 510(k) clearance for the infusion of diagnostic and therapeutic agents into the perivascular area of the peripheral vasculature. The Peregrine System Infusion Catheter is CE marked for the infusion of a neurolytic agent to achieve a reduction in systemic blood pressure in hypertensive patients.

About Ablative Solutions
Ablative Solutions, Inc., based in Kalamazoo, Mich., and San Jose, Calif., was founded in 2011 with a vision to address the unmet need of hypertension. Ablative Solutions’ approach targets the overactive sympathetic nervous system, which may play a role in hypertension, heart failure, kidney disease, metabolic syndrome and sleep apnea. The Peregrine System Infusion Catheter provides physicians with a way to infuse diagnostic and therapeutic agents into the area surrounding the renal artery, where sympathetic nerves are located. The Peregrine System Kit is currently being investigated as a treatment for hypertension in conjunction with antihypertensive medications. For more information visit

About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing EUR 1 billion across two business lines: a venture & growth capital fund and a private equity fund. Gilde Healthcare’s venture & growth capital fund invests in therapeutics, medtech and digital health. The portfolio companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable lower mid-market European healthcare services companies with a focus on the Benelux and DACH region. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market. The venture & growth fund is currently investing out of Gilde Healthcare IV which is financed, in part, by the European Recovery Program-European Investment Fund Facility. For more information, visit the company’s website at

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Wendel strengthens its position in Stahl by acquiring 4.8% of the capital from Clariant for €50 million

Wendel announces an agreement to acquire 4.8% of Stahl’s capital from Clariant for a total cash amount of
€50m. Following this deal, Wendel increases its ownership in Stahl to c. 67%1.
Clariant now owns c. 14.5%1 of the capital of Stahl and therefore drops out its board seat and its specific veto rights.
The remainder of Stahl’s capital remains held by BASF (c.16%), the company’s management and other
minority investors.

This transaction contributes positively to Wendel’s value creation. Wendel has been a long-term shareholder
of Stahl since June 2006 and is its sole controlling shareholder since 2009.

1 % of economic ownership

About Wendel
Wendel is one of Europe’s leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. Wendel plays an active role as a controlling or lead shareholder in these companies.
We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through OranjeNassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of PlaYce and Tsebo in

Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor’s ratings: Long-term: BBB-, stable outlook – Short-term: A-3 since July 7, 2014
Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la
Culture” in 2012.

For more information:
Follow us on Twitter @WendelGroup

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Triton completes acquisition of Dantaxi 4×48


Copenhagen (Denmark) / Virum (Denmark) 03 January 2019 – Funds advised by Triton (“Triton”) has completed the acquisition of the companies commonly referred to under the brand Dantaxi 4×48. Terms of the transaction are not disclosed.

Dantaxi 4×48 was a haulier-owned Danish taxi company created through the merger between Dantaxi and 4×48 TaxiNord in January 2017. Dantaxi 4×48 is the largest taxi company in Denmark with more than 1,600 taxis and nationwide coverage.

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 38 companies currently in Triton’s portfolio have combined sales of around € 13.1 billion and around 85,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

For more information:

About Dantaxi 4×48
Dantaxi 4×48 was a Danish haulier-owned taxi company created through the merger between Dantaxi and 4×48 TaxiNord in January 2017. The company is the only nationwide aggregator of taxiservices in Denmark with more than 1,600 taxis associated. In 2017, the company generated gross revenue of around DKK 1.6 billion and completed around 7 million trips.

For more information:

Press contacts:

Fredrik Hazén
+46 70 948 38 10

Dantaxi 4×48
Rasmus Krochin
+45 22 45 77 53


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GYNESONICS announces $75 million financing


Equity Round led by Bain Capital Life Sciences
Redwood City, CA – January 3, 2019 – Gynesonics, a women’s healthcare company and the
developer of the Sonata System and other advanced, incision-free solutions for the treatment of
uterine conditions, today announced that it has completed a $75 million equity financing. The
financing was led by Bain Capital Life Sciences and included all of the Company’s existing
investors, including Abingworth, Advanced Technology Ventures (ATV), Endeavour Vision,
HealthCrest, InterWest Partners, HBM Partners, Correlation Ventures and Hercules Technology
Growth Capital.

The Sonata (Sonography-Guided Transcervical Fibroid Ablation) System is intended for the
diagnostic intrauterine imaging and transcervical treatment of symptomatic uterine fibroids,
including those associated with heavy menstrual bleeding. The system combines a novel
integrated technology — the first and only intrauterine ultrasound system — with a proprietary
radiofrequency ablation device, providing a transcervical, incision-free, uterus-preserving
treatment for uterine fibroids. This breakthrough technology platform provides access to a wide
range of fibroid types, many of which cannot be treated with current operative hysteroscopy

Concurrent with the financing, Jeffrey Schwartz, a Managing Director of Bain Capital Life
Sciences, will join the Gynesonics Board of Directors.
“We are impressed by the quality and promise of the Sonata System and the caliber of the
Gynesonics team,” said Schwartz. “We believe there is a strong clinical need for an incision-free
option for women who are suffering from symptomatic fibroids. I look forward to joining the
board and working closely with the team on this important platform technology as well as other
advances in the company pipeline.”
“The Sonata System is poised to make a significant impact in the way women are treated for this
incapacitating disease,” stated Ken Haas, Partner, Abingworth. “As a founding investor in
Gynesonics, we are excited to help pioneer this new approach and to continue working with the
management team on its path toward successful commercialization.”
“We are confident that Gynesonics is well-positioned to meet the needs of women who suffer
from this debilitating disease. The robust and impressive clinical data will enable the Sonata
System to make a significant impact in the multi-billion worldwide market for the treatment of
uterine fibroids,” stated existing investor and Board Member, Mike Carusi, General Partner,
Advanced Technology Ventures.

Gynesonics will use the proceeds from the financing to launch the global commercialization of
the Sonata System. The Sonata System has a CE Mark for marketing in the European Union and
received U.S. Food and Drug Administration (FDA) 510(k) clearance in August.
The company will also use proceeds to further develop the Sonata technology platform, and for
additional clinical research initiatives to support reimbursement and market development

“On behalf of all of the stakeholders in Gynesonics, I welcome Bain Capital as a new investor
and Jeff as a new member of our board,” said Christopher M. Owens, President and CEO of
Gynesonics. “Gynesonics has developed a breakthrough treatment option for symptomatic
uterine fibroids that is designed to preserve the uterus. We are proud to offer physicians and the
women under their care a new treatment choice for this disease. This financing will provide the
capital to successfully commercialize the Sonata System and continue the clinical research
essential to our market development objectives.”

According to medical literature, about 70-80 percent of women in the U.S. will develop uterine
fibroids by age 50 with a significant proportion of the fibroids causing symptoms. In addition,
according to the New England Journal of Medicine, approximately 200,000 hysterectomies are
performed in the U.S. each year because of uterine fibroids.
With an estimated volume of more than 1 million annual global fibroid procedures, Gynesonics
projects a $3 billion-$4 billion global market opportunity for its Sonata System, including a
market opportunity of more than $1 billion in the U.S. alone.

About Bain Capital Life Sciences
Bain Capital Life Sciences pursues investments in biopharmaceutical, specialty pharmaceutical,
medical device, diagnostics and enabling life science technology companies globally. The team
focuses on companies that both drive medical innovation across the value chain and enable that
innovation to improve the lives of patients with unmet medical needs. Through its private equity
business, the firm has significant experience working with companies focused on women’s
health issues including through its prior ownership of Warner Chilcott.

About Sonata System
The Sonata System, the next generation of Gynesonics’ technology platform (the previous
generation referred to as VizAblate), uses radiofrequency energy to ablate fibroids under
intrauterine sonography guidance. The Sonata System, including the SMART Guide, enables the
operator to target fibroids and optimize ablations within them. Sonata System’s design provides a
straightforward, transcervical access for a uterus preserving, incision-free fibroid treatment. This
intrauterine approach is designed to treat a wide range of fibroid types while avoiding the
peritoneal cavity.

About Gynesonics
Gynesonics is a women’s healthcare company focused on advancing women’s health, by
developing minimally invasive, transcervical, uterus-preserving, incision-free technologies for
diagnostic and therapeutic applications. Gynesonics has developed the Sonata System for
diagnostic intrauterine imaging and transcervical treatment of symptomatic uterine fibroids. The
Sonata System is CE marked. Sonata is approved for sale in the European Union and the United
States. Gynesonics is a privately held company with headquarters in Redwood City, CA. For
more information, go to

Chris Owens, Gynesonics President and CEO

Categories: News


A record-breaking 2018 for bm|t


In 2018, for the second year in a row, bm|t´s investee-partners raised over 100 Mio. EUR. bm|t itself invested nearly 30 Mio. EUR in 29 companies, 16 of which were new investee-partners – a record for bm|t. In 2018, co-Investors invested over 70 Mio. EUR in 32 companies in which bm|t is invested. “2018 was again an excellent year for capital raising for bm|t´s investee-partners, and the substantial private investment is a strong validation of the attractiveness of the innovative companies we have in Thüringen,” commented Kevin Reeder, CEO of bm|t.

We are extremely pleased with the quantity and, most importantly, the quality of the new investee-partners we were able to gain in 2018. The strength of the teams, the level of technology, and the uniqueness of the business models have all been trending positively over the last years, but 2018 was truly a breakthrough year, with compelling investments in 16 new investee-partners. Our team worked extremely hard throughout the year to close a record number of deals and lay the foundation for the next decade of strong investment results and economic activity for Thüringen,” said Mr. Reeder.

bm|t currently manages eight investment funds that span the entire spectrum of the corporate lifecycle, from seed investments for start-ups to growth equity and mezzanine funding for established companies. “In 2018, we experienced a healthy mix of early-stage, growth-stage, and late-stage investments, and it is clear that the breadth of our portfolio across stages and sectors has been a key element of our success to date,” commented Mr. Reeder. In 2018, a significant partial-exit further cemented bm|t´s strong investment performance.

In 2018, bm|t celebrated its 15th year as an investment company focused on stimulating economic activity in Thüringen and generating positive investment returns. “The strong results of the last two years, both in terms of investment returns and invested capital, give the entire team a high degree of confidence that we are fulfilling our mission of strengthening Thüringen´s economy through targeted investments in innovative growth companies,” concluded Mr. Reeder.

Categories: News


Gladstone Investment Corporation exits its investment in STAR SEED


MCLEAN, Va., Jan. 02, 2019 (GLOBE NEWSWIRE) — Gladstone Investment Corporation (NASDAQ: GAIN) (“Gladstone Investment”) announced today the sale of its equity interest and the prepayment of its debt investment in Star Seed, Inc. (“Star Seed”) to Sequel Holdings, L.P on December 21, 2018. As a result of this transaction, Gladstone Investment realized a gain on its equity investment. Gladstone Investment acquired Star Seed in partnership with Broadgate Capital and ZJM Equity in 2013.

Star Seed, headquartered in Osborne, KS, is a leading seed distributor focused on native grasses, wildflowers, forages, cover crops, wheat, and other small grains. Through its ability to source a broad array of grasses and flowers, Star Seed has built a leading position in the conservation market in addition to its historical focus on agricultural products.

“Gladstone Investment has enjoyed a strong partnership with Star Seed’s management team over the last several years,” said Peter Roushdy, Managing Director of Gladstone Investment.  “Star Seed’s deep sourcing relationships, premium seed quality, and quick turnaround have proven to be a winning formula. Eric Woofter, CEO, Bob Hamel, COO, and the entire management team have achieved outstanding results in both growing and transforming the business and we wish them continued success.”

“With the sale of Star Seed and from inception in 2005, Gladstone Investment has exited 16 of its management supported buy-outs, generating significant net realized gains on these investments,” said David Dullum, President of Gladstone Investment. “Our strategy and capability as a buyout fund and our investment approach of realizing gains on equity, while generating strong current income during the investment period provides meaningful value to shareholders.”

Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market private businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information can be found at

For Investor Relations inquiries related to any of the monthly distribution-paying Gladstone family of funds, please visit

Forward-looking Statements:

The statements in this press release regarding the longer-term prospects of Gladstone Investment and Star Seed and its management team, and the ability of Gladstone Investment and Star Seed to be successful in the future are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on Gladstone Investment’s current beliefs that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in Gladstone Investment’s filings with the Securities and Exchange Commission. Gladstone Investment undertakes no obligation to update or revise these forward looking statements whether as a result of new information, future events or otherwise, except as required by law.

SOURCE:  Gladstone Investment Corporation

For further information: Gladstone Investment Corporation, 703-287-5810

Gladstone Investment Corporation logo

Categories: News