The funding will enable the company to commercialise nerve repair, hernia repair and cardiovascular sealant products
Tissium has secured €50m funding for tissue reconstruction products. (Credit: Colin Behrens from Pixabay)
Tissium, a developer of biomorphic programmable polymers for tissue reconstruction, has secured €50m in Series C financing round to drive its platform to the commercial stage.
Cathay Capital business unit Cathay Health has led new investors in the round, which was joined by other institutional and individual backers. Sofinnova Partners has led existing shareholders.
The latest financing will allow Cathay Health co-founder and managing partner Hongjie Hu to join as Tissium’s board of directors.
Tissium will use the proceeds from the latest financing round to continue executing its development plan, including the commercialisation of its nerve repair, hernia repair and cardiovascular sealant products.
The company intends to focus on rapid international expansion, by adding products to its platform in new therapeutic areas. For the expansion, it leverages in-house production and manufacturing facilities and by establishing partnerships in certain verticals.
Tissium CEO Christophe Bancel said: “With the closing of our Series C financing round, Tissium is well-positioned to take the next steps to commercialisation.
‘”This funding significantly bolsters our ability to move with speed towards our goal of enhancing tissue reconstruction for patients. This financing will contribute significantly to Tissium’s ability to take advantage of the variety of opportunities we have to advance our innovation in this space.”
Tissium is engaged in the development and commercialisation of an advanced biopolymer platform to solve multiple unmet clinical requirements, including traumatic tissue repair and reconstruction.
It is developing various biosynthetic, biomorphic and programmable polymers, which serve as foundation for the company’s technology platform.
At present, the company’s pipeline consists of seven products across three verticals, including nerve repair, hernia and cardiovascular.
In addition, the firm is involved in the development of delivery and activation devices to improve performance and usability of its products.