Prometheus Surpasses the Minimum Target of 1.6 Million in 24h

Prometheus has surpassed the first ambitious goal of its second equity crowdfunding round on Mamacrowd.

The biotech company, an Italian innovative SME active in the field of regenerative medicine, founded in 2017 by biotechnologists Riccardo Della Ragione, Alice Michelangeli, and Valentina Menozzi, with the idea of combining biology and 3D printing, has in fact surpassed 1.6 million raised in its first day of the campaign, thanks to 134 investors.

For Prometheus, this is the second equity crowdfunding round. In fact, in March 2021, the company successfully closed its first campaign by raising €1.33 million from as many as 372 investors, with a pre-money valuation of €7.2 million.

Among the main objectives of the deal, which now aims to reach €3 million, is the start of the study of the effects of the Ematik patch on humans and the subsequent obtaining of the CE mark, the launch of new products in the hospital sector for aesthetic medicine, orthopedics, and dentistry by early 2024, and the acceleration of access to foreign markets for products already on the market in the veterinary sector.

In fact, research to date has enabled the development of a proprietary technology to serve regenerative medicine, currently applied in the veterinary field and soon to be available for humans.

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Ematik Patch: what it is and how it works

The company’s flagship product, Ematik Patch is a resorbable, customized patch for severe injuries, such as sores, burns, and ulcers, that combines the patient’s own blood with 3D-printed biopolymers, which can halve healing time without leaving scars.

The high effectiveness in the veterinary sector, in which the Ematik line is already present, thanks to the collaboration with the multinational company B. Braun, supports the decision to want to enter the hospital market, where 20 million people suffer from chronic wounds each year, requiring more than 3 months for complete healing.

“To produce Ematik we designed a fully automated system: a machine that extracts the active molecules from the patient’s blood and combines them with the biopolymers supplied to the doctor in a single-use kit, returning the patch ready for use in minutes”- explained Alice Michelangeli CSO of Prometheus.

In order to start commercialization of the Patch in the hospital sector as well, and obtain the CE mark, regulations require human clinical trials, a central reason for the crowdfunding campaign to raise capital. “Ematik finds application in hospitals and clinics, public and private. There are 22,000 healthcare facilities in Europe and the daily turnout in centers that have the vulnology department inside, is about 60 patients a day, more than 10,000 a year – says Valentina Menozzi CTO of Prometheus.

The growth of Prometheus

Following the previous round, Prometheus industrialized the Ematik Lab machine, and developed and already tested 4 new products for the veterinary line always associated with blood derivatives, the commercialization of which started with B. Braun.

In addition, the company prepared the strategy for the commercialization of new kits for 3 different markets: orthopedics, aesthetic medicine, and dentistry. All tests required by the regulations were carried out, and passed with accredited laboratories, in order to facilitate the issuance of the CE mark.

Finally, it applied for patent extensions for Europe, the U.S., Israel, China, Japan, Australia, and Canada and initiated certification of Ematik devices for human use, successfully completing the preclinical phase.

“With this new equity crowdfunding campaign we want to accelerate access to foreign markets and complete human clinical trials of Ematik Patch. For these reasons we are looking for investors, together with whom to take part in the change and lay the foundation for the medicine of the future!” – concludes Riccardo Della Ragione CEO of Prometheus.

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(Featured image by Mufid Majnun via Unsplash)

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