Health innovations through equity crowdfunding – Let’s support Munevo and PharmGenomics!

EIT Health-supported start-ups Munevo and PharmGenomics are breaking onto the equity crowdfunding scene. Let’s help accelerate healthcare innovation for the benefit of all humanity.

Over the last decade, crowdfunding has become a popular way to finance all sorts of projects and products. Healthcare startups are no exemption. This is due to the increasing availability of capital and willingness of the general public to invest in innovative companies, the potential efficiency gains for companies compared to other sources of funding, and the positive marketing and media exposure associated with a successful crowdfunding campaign, which can then generate more follow-on funding for companies.

Without a doubt, equity crowdfunding is having its moment and two of our supported startups are taking up this moment. Munevo and PharmGenomics are running a crowdfunding campaign until the end of October.

Start-up description:

EIT Health Headstart winner Munevo developed Munevo Drive, a smart glass-based solution that enables wheelchair users to control their wheelchairs by moving their head. The application uses the sensors built into smart glasses to translate head movements into control signals. In addition, the smart glasses can be used to send an emergency call signal or take a photo and send it. The use of a Bluetooth interface also enables communication and interaction with other devices, such as smart phones or robot arms.

After the former TUM students established Munevo GmbH in March 2018, won the EIT Health Headstart and attended the Validation Lab Bootcamp, MunevoDRIVE was approved as a medical product at the end of the same year. Munevo DRIVE has been available on the German market since January 2019. The EIT Health European Health Catapult finalist and Bridgehead participant 2019 plans to enter the European and American markets by 2020.

Munevo aims to raise the target amount of €250,000 by the end of October, 2020, when the campaign ends.

PharmGenomics develops in-vitro diagnostic (IVD) and RUO (research use only) tests for clinical diagnostics in the area of human genetics. In 2018 the company reached the EIT Health Catapult semifinals with ColoAlert, the world’s first affordable stool-based tumor DNA colorectal cancer (CRC) screening test. In addition to this, the company is also working on the development of a pancreatic cancer screening test, PancAlert.

In light of the current situation, PharmGenomics was fast to address the need for coronavirus testing and introduced CoronaScreen. CoronaScreen offers the user-friendliness of a rapid test paired with the precision of laboratory tests – contactless, fast, and within your own four walls. Customers receive the test kit and instructions for taking samples directly to their home addresses. The returned sample is examined by the PharmGenomics laboratory for antibodies and by means of PCR for the SARS-CoV-2 virus and thus proves a possible coronavirus infection. The results are then conveniently and securely transmitted by email.

The campaign will be open until mid-October.

More information on investment opportunities and the procedure can be found on the official website.