Hylomorph secures 5.2 Million CHF Series-B round led by Geneva Smart Invest and Start Angels Network
Zurich, Switzerland – December 2021
Hylomorph, a rapidly growing clinical-stage medtech startup with a history of national and international recognition, announced the successful completion of a 5.2 Million CHF Series B financing. At the same time, the company attracted 0.9 Million CHF in new non-dilutive funding. These “booster injections” aim at safely bringing the company to FDA and CE mark approval of its product portfolio, beginning with the blockbuster Hylomate®. The existing investors made a strong statement with their continued support by co-leading the financing round with Geneva Smart Invest (GSI) and the Start Angels Network (SAN), and including among others Verve Ventures and Zürcher Kantonalbank (ZKB). The Series B investor syndicate was further strengthened by EFI Lake Geneva Ventures, the Geneva based fund targeting Swiss innovation.
“We are proud of this outstanding result, obtained in challenging times, confirming the strong trust base established with investors” said Dr. Simone Bottan, CEO and founder of Hylomorph. “Our clinical development program is progressing very well and results are extremely encouraging. The new funding will carry us to market clearance for 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”.
“The mission, team, technology and attractive market painted a picture which left no doubts for our investment in Hylomorph“, said Erich Platzer MD PhD, recent president of SAN, longstanding business angel and VC investor. “Over time, the market approach and growth strategy have been confirmed by multiple experts. The plan execution is in the hands of a strong management team. We expect Hylomorph to become an impressive success story.”
Hylomorph addresses all major risks connected to post-operative complications in implantable medical devices. Hylomorph has developed a unique, natural, and soft biomaterial which 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-hospitalization. The primary markets include cardiac rhythm management and neuromodulation devices representing a total market opportunity of USD 2.5bn worldwide.
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