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Aortyx closes €1.6 million financing round to initiate clinical trials

Aortyx, a Barcelona-based startup specialized in devices to treat vascular problems.closes $1.9 million (€1.6 million) financing round. The company, which is developing a patch for the treatment of aortic dissections, expects to start patient trials in 2022. With the money raised, the company will be able to make further progress towards bringing its new solution to market.

Eva Wesley

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The Spanish company Aortyx, born from the Institut Químic de Sarrià (IQS) and the Hospital Clínic de Barcelona (HCB), has closed a $1.9 million (€1.6 million) financing round through the Capital Cell platform, as confirmed by Jordi Martorell, co-founder, and CEO of the company.

The company is developing a patch for the minimally invasive treatment of aortic dissections. The device aims to drastically reduce patient mortality, thereby increasing their quality of life. The company has invented and patented a device that allows navigation with a catheter through the aorta that bends at the dissection entry port. Aorta deploys a bioabsorbable patch, which adheres to the aorta and plugs the leak. The patch allows local regeneration of this artery.  

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Aortyx closed its first round in March 2020, raising more than $712,000 (€600,000)

With the money raised, the company will be able to make further progress towards bringing its new solution to market. This amount is in addition to the $771,000 (€650,000) it already raised in a first round of funding led by Genesis Ventures in March 2020. 

“After more than a year conducting animal trials to validate the application, we plan to start pilot clinical trials in patients in 2022,” acknowledges the co-founder and CEO of Aortyx. The company has started the industrialization process of the prototype with the support of international manufacturers. All of the company’s quality procedures are already being implemented.

Aortyx is a Barcelona-based startup specialized in devices to treat vascular problems. Since its founding in October 2018, the company has had the participation of several private investors and has also obtained public and private funding. The company has been recognized and funded by the European Commission, by EIT Health, the Ministry of Science, Innovation and Universities, the Cdti, Enisa and the Generalitat de Catalunya.  

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The company’s team is formed by chemists, engineers, surgeons, pharmacists and doctors specialized in biology 

The Aortyx team is formed by chemists, engineers, surgeons, pharmacists and doctors specialized in molecular biology and materials science who come from institutions such as IQS, Hospital Clínic, MIT or the Max Planck Institut. It is also advised by world opinion leaders in vascular surgery and materials science. In addition, Aortyx is backed by advisors with extensive experience in business development in the field of medical devices. T

he company is led by Jordi Martorell, a PhD in Chemical Engineering specialized in Biomedical Engineering. He is the director of the Vascular Engineering and Applied Medicine laboratory (Gevab) and professor at the IQS School of Engineering. Martorell has more than ten years of experience in the field of vascular biology at MIT and IQS. In addition, he has collaborated with medical device companies to optimize the design of coronary stents and other arterial devices. 

Aortic dissection is a vascular disease with an estimated worldwide incidence of 1/10,000 patients per year and a mortality of up to 50%. Current treatments for aortic dissection have mortality rates of up to 30% and medium-term complication rates of up to 60%. At present, there is no definitive cure and the treatments currently used carry too high a risk and are ineffective.

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(Featured image by kalhh via Pixabay)

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Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.