The Series B investment round co-led by Geneva Smart Invest (GSI) and Start Angels Network also saw the participation of other existing investors, including Verve Ventures and Zürcher Kantonalbank (ZKB). The EFI Lake Geneva Ventures, a Geneva-based fund targeting Swiss innovation, also supported the round. In total, the company has obtained CHF 6.1 million, including a non-dilutive fund.
“We are proud of this outstanding result, obtained in challenging times, confirming the strong trust base established with investors,” said Simone Bottan, CEO and founder of Hylomorph. “Our clinical development program is progressing very well, and results are extremely encouraging”.
The Medtech startup based at Technopark Zurich addresses all major risks connected to post-operative complications in implantable medical devices. It developed a unique, natural, and soft biomaterial that establishes an optimal interface with the host tissue, thus preventing dangerous inflammatory and foreign body reactions, as well as the following outbreak of clinically relevant complications requiring patients’ re-hospitalisation.
Its product portfolio includes: Hylomate Pouch, designed to fit Cardiac Implantable Electronic Devices and Neurostimulators, is an implantable seamless pouch manufactured from surface micro-engineered biosynthesised cellulose. It aims to stabilise the surgical pocket while providing a physical barrier between the implant and the surrounding host tissues. The hylomate sheet is a 20x10 cm membrane manufactured from surface micro-engineered biosynthesised cellulose.
The primary markets include cardiac rhythm management and neuromodulation devices, representing a total market opportunity of USD 2.5bn worldwide. The new investment will enable Hylomorph to obtain market clearance for Hylomate in the US and EU.
“Our work aims at paving a future where post-operative complications in medical implants are tamed and suppressed, combining benefits in patients quality-of-life, clinician quality-of-care and healthcare cost-efficiency. Our goal is in sight”, said Simone Bottan.