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PRESS RELEASE : Creative Balloons closes EUR15 million growth financing and appoints Frank Gehres as CEO

02/24/2021 | 04:02am EDT
DGAP-News: MIG Verwaltungs AG / Key word(s): Investment 
Creative Balloons closes EUR15 million growth financing and appoints Frank Gehres as CEO 
2021-02-24 / 10:00 
The issuer is solely responsible for the content of this announcement. 
Creative Balloons closes EUR15 million growth financing and appoints Frank Gehres as CEO 
  . Medical technology specialist will use financing to launch its lead product on the global market and to further 
    develop its product pipeline. 
  . With Wellington Partners, MIG Fonds and Salvia, Creative Balloons obtains investment from three leading German 
    venture capitalists. 
  . Frank Gehres, an experienced executive with expertise in medical technology industry, sales and marketing, joins as 
Munich and Waghäusel, February 24, 2021 
Creative Balloons GmbH, Waghäusel near Heidelberg, a specialist in medical technology, announces the successful 
completion of a EUR15 million growth financing, involving three leading German venture capitalists - Wellington Partners, 
MIG Fonds and Salvia. 
For thirteen years, Creative Balloons has been researching and developing ultra-thin polyurethane (PUR) balloons for 
medical device applications, namely catheter manufacturing. These PUR balloons provide a unique combination of 
mechanical durability, shape retention, maximum seal ability and patient comfort - ideal for building an entire 
portfolio of high-performance catheters. Creative Balloons addresses a high unmet medical need, particularly in 
intensive care units, which have been heavily burdened during the COVID-19 pandemic. The company's innovative 
technology improves patient care with greater comfort, provides medical benefits, improves hygiene and significantly 
reduces the workload of nursing staff. Creative Balloons' lead product, hyghtec(R), is already marketed in Germany and 
successfully used in the treatment of intensive care patients for fecal management. 
With the closing of this financing, Creative Balloons also announces the appointment of Frank Gehres as its new CEO. 
Mr. Gehres brings extensive experience in international markets, leadership, management, sales and marketing expertise 
in medical devices and other pharmaceutical products, as well as global strategic development and set up of various 
business units. Previously, Mr. Gehres served as Global President Continence & Critical Care at Convatec Plc, as well 
as Vice President DACH & UK. 
Dr. Fred Göbel, founder and CTO of Creative Balloons, said: "The successful completion of this growth financing enables 
us to vigorously pursue our entrepreneurial goals. With Frank as our new CEO, we are now ready to position our lead 
product hyghtec(R) globally in the market." 
Dr. Karl Nägler of Wellington Partners added, "We are convinced that Creative Balloons offers an innovative product 
portfolio that can significantly improve the outcomes and efficiency of intensive care - as already proven by the 
success of hyghtec(R). With this financing and the appointment of Frank Gehres, Creative Balloons has the opportunity 
to become an ICU-focused technology leader." 
Matthias Guth, Venture Partner of MIG AG, said: "We have invested in Creative Balloons because, in addition to their 
innovative lead product, we believe in the experienced management team and their technology platform. Founder Dr. Fred 
Göbel has already proven that he can build an attractive start-up company with the successful sale of his first 
company, microcuff to a strategic partner." 
Creative Balloons and Dr. Göbel were advised by healthcare M&A experts at miura Advisors in the transaction. 
About Creative Balloons 
Creative Balloons is a specialized medical technology company. The company develops and markets novel catheter 
technology based on microscopically thin, complex shaped balloon films made of polyurethane (PUR). Creative Balloons 
taps the properties of these extraordinary structures for problem-solving platform concepts in the Fecal, Urinary and 
Respiratory segments. The current focus is on systems for the containment of patient contamination. In this context, 
Creative Balloons is developing drainage technology for fecal management in intensive care patients, which provides 
significant benefits in nursing, hygiene management and patient therapy. The first product utilizing this technology, 
hyghtec(R), is already used in German-speaking countries with great success. Creative Balloons was founded in 2007 and 
is based in Waghäusel, near Heidelberg, Germany. www.creativeballoons.de 
About Wellington Partners 
Wellington Partners is a leading European Venture Capital firm investing in early- and growth stage life science 
companies. Wellington Partners is focused on investing in the most promising life science companies in the fields of 
biotechnology, therapeutics, medical technology, diagnostics and digital health. With funds totaling EUR 1.0 billion, 
and more than EUR 430 million committed to life sciences, Wellington Partners has been actively supporting world class 
private companies translating true innovation into successful businesses with exceptional growth. To date, Wellington 
Partners has invested in 51 innovative life science companies, including Actelion (acquired by J&J), Definiens 
(acquired by AZ), Invendo (acquired by Ambu), Rigontec (acquired by MSD), Symetis (acquired by Boston Scientific), and 
Themis (acquired by MSD). www.wellington-partners.com 
About MIG AG 
MIG Verwaltungs AG (MIG AG) is one of the leading German VC investors. MIG invests in young deep tech and life sciences 
companies in German-speaking Europe and beyond via MIG Fonds. The company has invested approximately EUR580 million in 
over 40 companies to date. MIG's portfolio companies develop innovations in biopharmaceuticals, artificial intelligence 
/machine learning, quantum technologies, digitalization/IOT, precision medicine, digital health among other sectors. 
Currently, the MIG investment portfolio consists of 29 companies. 
MIG's investment team consists of a dedicated expert group of engineers, biologists, scientists and investors who use 
analytical and creative processes to evaluate risks and opportunities of business models and technologies. Their 
reputation, experience and network provide excellent access to companies, institutions and decision makers to support 
the growth of their portfolio companies 
In recent years, MIG AG realized successful sales of the portfolio companies SuppreMol (to Baxter International, 2015), 
sunhill technologies (Volkswagen, 2015), Ganymed (Astellas Pharma, 2016) and Siltectra (Infineon, 2018) and placed 
several companies on the stock exchange with BRAIN (2017), NFON (2018), BioNTech (2019) and Immatics (2020). 
For further information please visit: www.mig.ag, www.mig-fonds.de 
About Salvia 
Salvia is a private investment company founded and managed by Helmut Jeggle. Salvia invests in the areas of life 
science, digital health and deep tech, among others, mainly as a business angel, but also in later stages as a venture 
Contact person: 
Frank Gehres, CEO 
Creative Balloons Ltd. 
Dr. Karl Nägler 
Managing Partner 
Wellington Partners 
+49-89-21 99 41 17 
Matthias Guth, 
Venture Partner of MIG AG, 
Press contact: 
MC Services 
Julia Hofmann 
2021-02-24 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 

1170665 2021-02-24

(END) Dow Jones Newswires

February 24, 2021 04:01 ET (09:01 GMT)

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