Fibrotic encapsulation is the body’s response to implanted foreign materials by encapsulating it in a dense layer of fibrotic connective tissue. All implantable medical devices such as cardiac arrhythmia devices or breast implants encounter this reaction - representing a total market opportunity of 2.5bn Swiss francs worldwide.
Hylomorph has developed a unique biomaterial, which interacts with the sensing mechanism of cells thus maintaining a healthy interaction between device and tissue. The startup is also collaborating with prestigious institutions such as the Charité university hospital in Berlin, Wyss Zurich and the German Heart Center Berlin.
Now the ETH spinoff announced the finalization of a series A round of 3.2M Swiss francs. The round was led by Fongit Seed Invest and included Business Angels from the StartAngels Network Zurich, Zürcher Kantonalbank and investiere. «Hylomorph's strong team, its versatile technology platform and a very attractive market combined with a clear exit-strategy is what convinced us to invest and to lead the financing round», says Gianluigi Berini, President of the Board of Fongit Seed Invest.
Hylomorph will use the funds to finalize its product development, conduct clinical studies and to get FDA approval as well as CE-Marking, which is expected by early 2021.
(SOK/ Press Release)