TVM CAPITAL LIFE SCIENCE ANNOUNCES €8 MILLION INVESTMENT IN MYO TO REVOLUTIONIZE ELDERLY CARE VIA INNOVATIVE, EASY-TO-USE APP

TVM CAPITAL LIFE SCIENCE ANNOUNCES €8 MILLION INVESTMENT IN MYO TO REVOLUTIONIZE ELDERLY CARE VIA INNOVATIVE, EASY-TO-USE APP

Munich, Germany and Montreal, Quebec, Canada (January 31, 2024) – TVM Capital Life Science (“TVM”), a leading transatlantic venture capital firm focused on investments in life sciences innovation, today announced the closing of a Series A financing round for Myosotis GmbH (“myo”), a pioneering Berlin-based digital healthcare startup. TVM led the round, investing €8 million. The proceeds will be used to further grow the business in the DACH region as well as in the UK. This will include expanding marketing capacity and enhancing service quality for existing customers, as well as developing new modules. Dr. Sascha Berger, General Partner, and Stefan Fischer, Managing Partner (Finance) of TVM, will join the myo Board of Directors.  

myo was founded in 2018 with the goal of relieving employees in care homes through digital solutions and bringing more transparency, participation and appreciation to the sector. The company’s communication app enables care facilities, families and service providers to communicate with each other easily, quickly and digitally. Families are able to participate in their loved ones' everyday lives by receiving pictures, videos and documents as well as making video calls. Additional modules for the app simplify important but time-consuming administrative tasks, including ordering meals, monitoring complaints, and managing key external services such as laundry providers and pharmacies. This saves time and money and improves documentation. myo services approximately 400 customers in the DACH region and the UK.

Dr. Sascha Berger, General Partner of TVM Capital Life Science, commented: “At TVM, we are committed to advancing healthcare innovations that address unmet needs. Digital tools offer the promise of significantly increasing the efficiency of the healthcare system and giving medical professionals more time to do what they do best – care for their patients.  myo's unique approach to elderly care communication could transform this crucial and growing sector, contributing to improved communication amongst healthcare staff, relatives and service providers, resulting in better care."

Stefan Fischer, Managing Partner (Finance) of TVM Capital Life Science, noted: “The new digitalization strategy of Germany’s Ministry of Health not only acknowledges the incredible potential of digital solutions for the future of our under-pressure healthcare system, it also opens the way for groundbreaking technologies like myo’s apps to be integrated in a meaningful way into patient care. TVM is excited to see this important product rolled out in the DACH region and the UK. myo's dynamic management team is well positioned to effectively scale myo’s innovative platform and make a tangible impact on the healthcare industry.”

Jasper Böckel, CEO of myo, added: “This funding is an important step in our growth plan. We are delighted to have such a well-regarded investor as TVM come on board and look forward to leveraging their experience with commercial-stage life science companies. Our passionate team is dedicated to enhancing human interactions in care settings, and these proceeds will now enable us to roll out our technology to more users and develop additional solutions for healthcare providers and families.”

About myo

Myosotis GmbH (Latin for forget-me-not flower) offers the first software-as-a-service solution for direct digital communication between employees, relatives and the ecosystem of service providers in care homes. The app enables intuitive communication with relatives through photos, videos, voice messages and video calls. This makes the impressive work in care more visible and simplifies administrative processes at the same time. The majority of communication - whether with relatives or third-party providers - can be handled by a single digital application. With just one click, homes can inform all relatives about new hygiene measures, for example, let a family participate in the life of the person in need of care and inform the doctor, pharmacy or external laundry service. This saves employees valuable time, which in turn can be used for caring for the elderly.

myo is already working with over 400 customers in DACH and the UK, including the most well-known providers, such as DRK, AWO, Johanniter and Agaplesion. Last year alone, over 30,000 users sent seven-figure interactions via the platform. In addition, interfaces have already been established with market leaders such as apetito, Sanacorp and CWS to further simplify communication for facilities.

In addition to new investors, TVM and Twip, existing shareholders include the nursing home operators Agaplesion and Carpe Diem, as well as the venture capital funds BonVenture, Axel Springer Plug & Play, Think Health, Mountain Partners, Round Hill Ventures and Capacura.

About TVM Capital Life Science

TVM is a leading international venture capital firm focused on investing in life science innovations.  The company has a highly experienced transatlantic investment team and approximately $900 million under management. TVM’s portfolio focuses on therapeutics and medical technologies from North America and the EU that represent differentiated first-in-class or best-in-class assets with the potential to transform standard of care.

TVM pursues a unique two-pronged strategy, financing innovative early-stage therapeutics through a single asset company approach (Project-Focused Company, PFC) that leverages the firm’s strategic relationship with global pharmaceutical firm, Eli Lilly and Company. TVM also invests in differentiated commercial-stage medical technologies and late clinical-stage therapeutics.

With its late-stage investments, TVM focuses on differentiated medical technologies and health tech with commercial proof-of-concept, as well as late-stage therapeutics expected to quickly reach major development or regulatory milestones. This strategy has been validated through a number of companies in both Fund I and II and the Colucid Pharmaceuticals exit.

The TVM investment team has worked together for over a decade to effectively utilize this innovative approach to maximize returns for investors and finance new therapies and technologies to meaningfully improve patient lives.

For further information, please visit www.tvm-capital.com. Follow TVM on LinkedIn.