GATT Technologies Announces €10.5M Series B Funding, Appointment of New CEO, and Expansion of Supervisory Board to Lead Company Through Next Development Stage

Hemostatic solutions innovator GATT Technologies closes €10.5M series B financing led by NGI LLC, a US based healthcare investor, along with the participation of Johnson & Johnson Innovation – JJDC, Inc., and Oost NL, and appoints Geert van Gansewinkel as its new Chief Executive Officer (CEO) and Vlad Hogenhuis as a new board member. Founder and current CEO Johan Bender will become responsible for R&D in his new role as CTO (Chief Technology Officer).

NIJMEGEN, Netherlands, May 18, 2020 /PRNewswire/ -- GATT Technologies (the Company), a medical device company founded in 2011, developed a breakthrough patented synthetic technology intended to address severe and problematic surgical bleedings and organ leakages. The solution it has developed has been tested on animals and based on current tests shows superior results as compared against other products currently in the market in terms of speed, efficacy, and costs. Proceeds of the investment will be used to support the next clinical trial phase and further development of applications of the Company's breakthrough hemostatic technology platform. The Company expects to start clinical trials in Q2 2020.

"The addition of Geert van Gansewinkel and Vlad Hogenhuis to the team and the further strengthening of our financial position marks a significant milestone for our Company. We are now extremely well positioned to move our first product, GATT-Patch, into clinical trials and further develop our other pipeline products and innovations," said Johan Bender.

"I am excited to join the GATT Technologies team," said Geert van Gansewinkel. "I look forward to working with our management team, our board and our investors to build our Company and to develop a range of innovative products based on GATT's platform technology that will support saving patient lives in surgery. I was convinced that this is a revolutionary new product after reviewing the surgeon write ups who used the GATT products in a lab," said van Gansewinkel.

About GATT Technologies

GATT Technologies' hemostats and sealants focus on controlling severe surgical bleedings as well as preventing and treating organ leakages. Leveraging its patented technology, the Company has developed a synthetic surgical and sealant platform with the potential to become a superior alternative to the current fibrin and PEG-polymer based solutions in terms of speed, efficacy and cost. Currently, the Company is focusing on moving the GATT-Patch, a fast hemostatic sealing patch to be used in general surgery, into clinical trials in Europe and the United States. Additionally, it is further developing its other pipeline products including GATT-Powder (hemostat, laparoscopic use) and GATT-Tape (intestinal anastomotic leakage) and is assessing other potential applications based on its activated polyoxazoline technology such as bone regeneration, anti-adhesion, vascular, and ophthalmology.

About Geert van Gansewinkel

Geert is a senior executive with more than 20 years of experience in strategy consulting, entrepreneurship and general management. He worked as a technology and strategy consultant for Accenture and The Boston Consulting Group. In 2013, he became entrepreneur and partner at life sciences compliance software company Polaris, building and managing the European and Asian businesses. He played a key role in the sale of the business to IQVIA in 2017, where he continued working in various roles, initially global commercial head for compliance solutions, owning global sales, marketing and customer success, and most recently general manager for the Dutch business. Geert holds a Master of Science degree in International Business Administration from the University of Maastricht, and an MBA degree from IESE in Barcelona. Geert has assumed his role as CEO with GATT Technologies effective March 1^st, 2020.

About Vlad Hogenhuis

Vlad Hogenhuis, MD, was most recently the Chief Operating Officer of Ultragenyx, Pharmaceutical Inc. (Nasdaq: RARE), a rare disease company, where he was responsible for global commercial operations, business development and manufacturing. Before Ultragenyx, he held leadership positions at GSK and Merck & Co, where he worked in a variety of operating and strategic leadership roles for 25 years. He also holds an MBA from Wharton School at the University of Philadelphia and a medical degree for the University of Leiden, The Netherlands. Dr. Vlad Hogenhuis has assumed his role as board member with GATT Technologies effective May 1st, 2020.

About Oost NL

Oost NL (East Netherlands Development Agency) is an agency that focuses its activities and projects on strengthening and stimulating the economy of the provinces of Gelderland and Overijssel, the Netherlands. Oost NL works with businesses in the provinces of Gelderland and Overijssel and is commissioned by the Ministry of Economic Affairs and Climate Policy and the respective Provinces.

For more information, please visit the web site on www.gatt-tech.com.

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SOURCE GATT Technologies