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.
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.
Find more about Aortyx and read the latest business headlines with the Born2Invest mobile app.
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.
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.
(Featured image by kalhh via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Vall d’Hebron Invests 50 Million in Projects Against Stroke and Nuclear Medicine
Vall d'Hebron is one of the main public hospitals in Spain. The center received 1.1 million outpatient visits (115,422 more...
Marrakech-Agadir High-Speed Line: ONCF Launches the APS Studies
For ONCF, this line must be designed so that its performance and safety level are globally at least equivalent to...
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 13]
When in doubt, we at TopRanked prefer optimism. But when it's week 13 and the world's screaming AI FUD, maybe...
Pampa Hemp Introduces First Medical Cannabis Seed Developed and Produced in Argentina
Argentina has been developing its cannabis production chain in recent years, promoting medical and scientific research on the medicinal use...
Paraguayan Chamber of Fintech Supports Controls on Illegal Crypto Mining
By the end of 2022, a special price was defined for the intensive consumption group. In that set, they included...
Featured4 days ago
Cotton Demand Has Been Ramping Up for the Last Couple of Months but Fell Off
Business2 weeks ago
UBS Bailout of Credit Suisse Leaves Markets in Doubt and Spanish Banking Sector Suffers Instability
Featured1 day ago
Gambini Collects €2 MIllion Green Loan from Intesa Sanpaolo
Featured1 week ago
Fintech Company Raisin Receives Unicorn Status After New Financial Injection