BioTech / Biomedicine: Zurich-based hemotune raises CHF 5.1 million Series A funding

hemotune raises CHF 5.1 million Series A funding to accelerate the development of their disruptiveblood purification platform

Zurich, Switzerland, August 12,2020–hemotune AG, a spin-off from ETH Zurich founded in 2017and currently incubated at Wyss Zurich, today announced the closing of a CHF 5.1 million Series A to advance the development of HemoSystem, a breakthrough blood purification platform based on nanoengineered magnetic beads. Despite the corona crisis, hemotune managed to build a very strong consortium led by OCCIDENTwith participation of the Korean medical device company Greencross Medical Science Corp.(GCMS), and Zürcher Kantonalbank.The closing was finalized shortly after EIT Health announced co-investing EUR 500,000 in hemotune in July 2020. This brings the total amount raised since incorporation to more than CHF 10 million. With the Series A hemotune will accelerate the preclinical development of HemoSystem. HemoSystem allows therapeutic blood purification with much higher efficiency and precision compared to existing methods by mixing nanoengineered magnetic beads directly with patients’ bloodin a dialysis-like machine. The beadsare 300 times smaller than a red blood cell and are equipped with selective binding agents against disease related compounds. While the blood flows through a magnetic filter, beads and bound targets are highly efficiently removed before it is recirculated to the patient’s body. The aim of the treatment is to remove a mixture of different substances playing key roles in immune response and sepsis. Lukas Langenegger, CEO and co-founder of hemotune AG, states: “We are very happy and proud to welcome the new investors on our journey to revolutionize sepsis treatment and blood purification in general. In times when infectious diseases are in the spotlight again both due to the rise of antibiotic resistance and viral threats, the whole hemotune team is extremely committed to making our game changing treatment available to patients as fast as possible. ”Cédric Barra, Investment Manager for the life sciences sector at OCCIDENT comments: “We are very excited to welcome hemotune to our portfolio. hemotune is a company whose development we have been following for a long time and which has made tremendous progress in the last years in developing their highly innovative platform technology. We consider the first indication of septic shock to be very promising and see additional fields of application that can be addressed in the future. One aspect we also closely follow is the probable role of septic shock in connection with COVID-19 –also here the company could have a major impact. We are convinced that the company can provide significant benefits to patients and this motivates us to pursue this path together with the company in the coming years.” Eun-Uk Ahn, CEO of GCMS says: “We decided to invest in hemotune to strengthen our collaboration. While hemotune plans to develop innovative blood purification technology and launch in Europe as the first market, GCMS would like to help hemotune to launch its products in Asia. As GCMS has already established a market in Asia and all the other regions, GCMS can become a strong partner to penetrate the market within short time. The immediate market success will be generated faster than we all assume when we can find the right treatment solutions against COVID-19. With its much potentials, GCMS has huge hopes on hemotune.” Daniel Schoch, Head of Start-up Finance at Zürcher Kantonalbank: “So far, there are hardly any effective treatment methods for sepsis. hemotune is developing an innovative solution to change exactly this. Due to the high medical benefit, we are supporting the young company with start-up financing from Zürcher Kantonalbank.”

About hemotune
hemotune’s revolutionary medical device for blood purification combines cutting-edge scientific results from biomedicine and nanotechnology. It allows specific and direct removal of disease-causing substances from the blood stream of a patient. The technology targets a broad range of harmful compounds such as toxins, pathogenic organisms, or immunomodulators. Moreover, by being more targeted, efficient, and gentler than previous blood filters, the MedTech company outperforms state of the art therapies and improvespatient outcomes. For more information, please visit www.hemotune.ch.

 

About OCCIDENT
OCCIDENT is an international venture capital investor with offices in Zug and Munich, is owner-managed and invests own wealth. Its aim is to make a positive contribution to society through sustainable and meaningful investments. OCCIDENT invests in innovative deep tech start-ups with excellent technologies in the fields of life sciences, digital and high-tech with broad application possibilities and the potential for further value-generating developments. The geographic focus is Germany and Switzerland. The preferred stage for initial financing is from seed rounds or later and from 0.5 million euros. OCCIDENT distinguishes itself in particular by its in-depth knowledge of the technology and the versatile support offered to its portfolio companies by its competent team of experts. For more information, please visit www.occident.group.

About GreenCross Medical Science Corp.
GreenCross Medical Science Corp., a subsidiary of GC which is a leading company in the Korean Pharma and Biotechnology Industry, is one of the first-generation service providers of in vitro diagnosis. Our company dates back to 1972 when GCMS jumped into the in vitro diagnosis business bysetting up a dedicated organization and has since achieved a phenomenal growth. GC Pharma spun off its Diagnosis Business Division to set up an independent corporation dedicated to diagnostic reagent in 2004. GCMS, previously GCPharma Diagnosis Business 3Division, has made remarkable contributions in leading the growth and development of our domesticand global diagnosis industry for the past four decades. Since 1972 when the first blood grouping reagent was introduced to market, our company has developed and distributed a variety of sophisticated reagents to medical institutions at home and abroad. These include infectious diseases (HIV, HBV, HCV etc.), tumor markers,and parasitological test reagents which all require very advanced technologies. For more information, please visit www.greencrossms.com/eng/main.do.

About Zürcher Kantonalbank
Zürcher Kantonalbank is a leading universal bank in the Zurich economic area with national roots and international reach. It is an independent public-law institution owned by the canton of Zurich and has received top ratings from the rating agencies Standard & Poor’s, Moody’s and Fitch (AAA/Aaa). With more than 5,000 employees, Zürcher Kantonalbank offers its clients a comprehensive range of products and services. The bank’s core activities include financing businesses, asset and wealth management, trading, capital market transactions, deposits, payment transactions and card business. Zürcher Kantonalbank provides clients and distribution partners with a comprehensive range of investment and retirement provision products and services. For more information, please visit www.zkb.ch.

About Wyss Zurich
The Wyss Zurich is a joint accelerator of the University of Zurich and ETH Zurich (Swiss Federal Institute of Technology Zurich), which was made possible by a generous donation from the Swiss entrepreneur and philanthropist Dr. h.c. mult. Hansjörg Wyss. Itwas established to foster translational research focused on developing treatment protocols and clinical therapies, as well as novel technologies and intelligent systems, in the emerging fields of Regenerative Medicine, Life Sciencesand Robotics. Wyss Zurich unites world-leading experts from both institutions in multidisciplinary teams, pooling their knowledge and expertise. For more information, please visit www.wysszurich.ch.

Further Information: https://www.hemotune.ch/

Logo (c) hemotune

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