The Lyon-based company ACS BIOTECH, specialized in cartilage repair, is launching a new crowdfunding operation on the HAPPY CAPITAL platform with the aim of raising $665,000 (€600,000) from the general public. The funds will enable the company to continue the clinical development of its innovative solution for the treatment of osteoarthritis.
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Good news for the treatment of osteoarthritis
This degenerative and painful joint disease affects more than 230 million patients worldwide, including more than 10 million in France. These figures are constantly increasing due to societal factors such as the evolution of obesity and the aging population. Anatomically, osteoarthritis results in the destruction of cartilage in the joints (knee, hip, etc.) causing severe pain and a significant reduction in mobility. Cartilage is a non-innervated and non-vascularised tissue that cannot regenerate spontaneously. So far, there is no effective cartilage repair solution to permanently combat tissue degeneration and eliminate pain known to date.
The patented ACS BIOTECH solution is a unique product for the repair of cartilage lesions by minimally invasive surgery in only one injection. The articular cartilage gel ready for implantation will allow a definitive repair. This revolution made possible by innovative biomaterials has been developed as part of a research project with the CNRS. The marketing of the first injectable kits is planned within 3 years.
Pascale Hazot, the head of the company, Doctor in Materials Chemistry and graduate of an International MBA at EM Lyon, has surrounded herself with a multidisciplinary team. The team includes experts in biomaterials, cell and molecular biology as well as regulatory affairs. ACS BIOTECH, created in 2013, also relies on an internationally renowned scientific committee (CNRS, Hospitals and Clinics). The startup is located at the Lyon Biopôle Innovation Center, a world-class healthcare competitiveness cluster.
Initially incubated at EM LYON, the company also benefits from the support and guidance of BPI France, BPAURA, CIC, the Auvergne Rhône Alpes Region and the European Commission within the framework of the EIT Health and Eurostars programs.
ACS Biotech has also been rewarded with numerous prizes such as ‘Lab Meeting’ at the ‘Innovation highlights Brief Eco 2019’, ‘Entrepreneur of the year 2018’ at the Alumni Makers Awards of the EM LYON, ‘Economy’s favorite 2017’ by the VOXX, ‘The Bucket of Excellence’ in 2017 for its cartilage repair project in the H2020 program of the European Commission and ‘Startup Connexion’ of the CNRS in 2016.
Crowdfunding to finance its development
ACS BIOTECH chooses the participative economy to reaffirm its values and allow investors to give meaning to their savings while financing the real economy. The company is partnering with the HAPPY CAPITAL platform to raise $332,000 (€300,000) until March and reach $665,000 (€600,000) before June. The fundraising campaign has already raised more than $55,000 (€50,000) in just a few days.
The HAPPY CAPITAL platform invests alongside private individuals, convinced by the project’s ability to revolutionize the medical management of osteoarthritis.
ACS BIOTECH is a biotechnology company specialized in the design of innovative matrices of natural polymers for the development of regenerative medicine solutions. ACS has developed an innovative injectable cell therapy solution for cartilage repair based on a unique 3D chitosan hydrogel matrix to offer a new generation of chondrocyte grafting. The company exploits the properties of chitosan (biocompatible, bioresorbable, good cell adhesion) for perfect control of the cells before implantation.
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First published in caducee.net, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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