- Emergency due to lack of funding
- Attorney Marc-André Kuhne appointed as temporary bankruptcy administrator
- Technology is ready for the market and already in use
Garching/Munich, October 1, 2024. The health technology startup Inveox GmbH is looking for an investor. The reason for this is a financial crisis caused by an extraordinary lack of funds from the shareholders. The inevitable result was a bankruptcy filing. The Munich district court allowed the application and appointed lawyer Marc-André Kuhne from the law firm dkr kuhne dr. run as a temporary interrupt controller. Together with his team, Attorney General Kuhne got an overview of the company’s situation and quickly started a structured investment process in collaboration with the M&A consulting company Falkensteg. The aim is to preserve the company’s advanced technology and as many of the 20 jobs as possible. “We have a highly motivated, capable team here who are passionate about the product,” said Attorney Dr. Hermann Raith.
Significant improvement in cancer diagnosis
Since its establishment in 2017, Inveox has been working with the vision of improving the treatment of tissue samples, especially for cancer diagnosis, through innovative technology. The specially developed software called “invorder” digitizes sample delivery and sample receipt in the laboratory, while the smart sample machine system and the sampleX tool make the process more safer, faster and less errors. Basically, it’s about automating and digitizing the processing of tissue samples taken and enabling AI-assisted diagnosis. Until now, many steps in the labs were done manually and were therefore relatively slow and prone to errors. In the first step, proprietary software was designed to largely digitize the process with the patient, from sample collection to diagnosis to referral to the treating physician. This was followed by the development of a smart sampler and automated sample processing system for use in laboratories.
Many awards for innovation
A quarter of the 430 histopathological laboratories in Germany that examine tissue samples were involved and involved in the development of this innovative concept. The device is being installed and commissioned in an established private clinic. However, further investments are needed before it is ready for the final market. Inveox was named Startup of the Year by Forbes in 2018, was a finalist of the German Innovation Award in 2019 and would be honored as Digital Startup of the Year by the Ministry of Economic Affairs in 2020. Inveox technology is very innovative and there is no doubt that there is a market for digitizing pathology laboratory processes. “I am therefore optimistic that we will find a long-term and stable succession solution for this interesting company,” explained RA Kuhne, preliminary insolvency administrator at the law firm dkr kuhne dr. Raith from Munich. The structured M&A process is in the hands of Falkensteg’s M&A experts led by Jonas Eckhardt.
Maria and Dominik Sievert are the founders of the company Inveox. There are currently 20 employees. Inveox has three subsidiaries in Germany, Poland and the USA. “Our technology is proven and we are seeing strong consumer interest in a market that urgently wants digitization and greater efficiency. We have already proven that our system works,” explained Dominik Sievert. Co-founder Maria Sievert said: “Our mission is to make cancer diagnosis safer and faster. It is clear that there is an urgent need for digitization and automation in pathology.” Helmut Schöneberger, CEO of UnternehmerTUM and board member of the German Startup Association, who has been with the founders since the start of the Manage & More program, is optimistic about a solution: “Maria and Dominik Sievert are among the most innovative in the health technology sector. Inveox stands for excellent technology, a visionary entrepreneurial spirit and an outstanding team. I am sure, with the right investor, they will create a sustainable and successful future.”
Mu dkr kuhne dr. attorneys raith PartGmbB
The law firm dkr kuhne dr. Raith Law Attorneys PartGmbB (www.dkr-partner.de) has many years of experience in the areas of bankruptcy administration, reorganization and restructuring. With two administrators and a team of ten employees, she works in several courts in Bavaria and handles bankruptcy cases of all sizes. The law firm has particular expertise in the areas of restructuring moves, bankruptcy plan actions and self-administration; Their partners are also available as an agency (CRO) in self-administered transactions. Lawyer and partner Marc-André Kuhne specializes in business continuity and restructuring, as well as supporting self-administration activities as an administrator. He has been regularly appointed as bankruptcy administrator for 15 years.
About FalkenSteg
FalkenSteg advises decision makers from European business and service companies as well as international investment companies in the areas of corporate finance, debt advisory, restructuring, operations and real estate. With its consulting approach focused on specific situations, FalkenSteg stands for recognized implementation expertise, operational excellence and close partnership relationships at eye level. The consulting specialist supports clients in their transitions, starting from financing projects, real estate management and corporate transactions to out-of-court reorganization or restructuring as part of bankruptcy proceedings. The FalkenSteg team is based around the country and consists of around 100 experts.
2024-10-02 08:23:41
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