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.
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.
Total Value of Investments on DeFi Platforms Falls Drastically
At the height of the popularity of Bitcoin and other coins, over $250 billion was invested in cryptocurrencies on DeFi...
Loopdx Opens €1 Million Round to Bring its Sepsis Biomarker to Market
n Spain, 17,000 people die every year from different types of septicemia. This condition is one of the most serious...
Why New York Raw Sugar and London White Sugar Trends Are Down
New York was lower again last week on ideas of bigger supplies. London also closed lower as White Sugar supplies and...
A Look at all the Recessions Since 1970: Three Hard Landings Stand Out
This past week saw a spectacular "rebound" "relief" rally. Could it turn into a summer rally? Just as the Fed...
Mr Bear Ain’t Going Nowhere
Since May 26th Mr Bear has been a very bad bear. We’ve seen three NYSE days of extreme market breadth...
Biotech6 days ago
Satellos Bioscience’s Stem Cell Signaling Research Could Turn the Tables on Muscular Dystrophies
Cannabis2 weeks ago
Luxembourg Approves the Self-Cultivation of 4 Cannabis Plants per Household
Crypto2 weeks ago
Solana Price Forecast: SOL Forms a Dead Cat Bounce
Crowdfunding2 weeks ago
Exporo Raises Funds, but the Company Value Decreases Instead of Increasing