Myocene Raises €3M to Accelerate International Commercialization
LIEGE, Belgium, June 18, 2024 (GLOBE NEWSWIRE) -- Myocene, the Liège-based sportstech company developing a unique, cutting-edge device to objectively measure muscle fatigue, today announced that it has raised a further €3m to accelerate its growth, in particular the international commercialization of its device on the European and American markets.
The innovative device developed by Myocene computes the value of the muscle fatigue index in just two minutes. The solution uses a dedicated algorithm to analyze accurate measurements obtained using a specific sensor and very well controlled muscle contractions. The device can be used both indoors and outdoors, helping top-level athletes to manage their fatigue and improve their performance. It also contributes to strength and conditioning coaching by offering the possibility of adapting training sessions and rest periods. It therefore helps preventing the risks of overtraining and injury.
"Since the previous round in March 2023," says CEO Jean-Yves Mignolet, "Myocene has signed contracts with top European soccer clubs such as OGC Nice, Sporting Club Braga and Paris-Saint Germain, among others. Over the same period, more than eight hundred and fifty sportsmen and women used it during their training sessions, and more than ten thousand five hundred measurements were taken, enabling fitness trainers to make decisions on player training based on rationally objective information. These measurements have also helped us refine our device and improve user protocols, while confirming the excellent reliability of the data collected."
The €3 million fund-raising that the Walloon company has just completed with the participation of InvestSud, Wallonie Entreprendre, Noshaq and the historical founders, partly in capital and partly in a convertible loan, will be used to accelerate the commercialization of the product on the European and American markets.
"The Myocene device represents a profound change in the way top-level athletes are monitored," adds Dr Pierre Rigaux, Chairman and Founder. "The tests carried out since its launch have enabled us to establish our technology as a benchmark tool for measuring muscle fatigue in athletes. The three million euros we've just raised will enable us to look forward with confidence to growth in Europe and the launch of Myocene on the US market in 2025, for which we have the highest hopes," he concludes.
About Myocene
Myocene is a medical and sports technology company developing an innovative device for measuring muscle fatigue. Fatigue is assessed using patented algorithms to provide objective, precise, quantifiable and rapid measurements. Using a combination of electrostimulation and force sensors, Myocene's device measures a fatigue index in just two minutes.
The application of the technology, already tested by almost 1,500 athletes, extends to the entire professional and semi-professional sports market, filling an important gap in the objective assessment of muscle fatigue, a fundamental parameter linked to athletic performance. The Myocene device also offers potential applications in the medical field (occupational medicine, muscle pathologies).
Myocene's technology has been validated by Prof. Guillaume Millet, a sports physiologist at the Jean Monnet University in Saint-Etienne, France.
The company was founded in 2020 and is based in Liège, Belgium.
Contact Jean-Yves Mignolet, CEO info@myocene.com
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