LYMPHATICA Medtech, a vascular medical device development start-up, closes a seven-digit financing round to advance clinical validation aiming at revolutionizing the treatment of chronic lymphoedema.
The investment round, led by High-Tech Gründerfonds, was joined by business angels, the EIT health (European Institute of Innovation and Technology) and existing investors, including LIVEventures. The Company also announces the appointment of Laurent Duhoux (ex VP New Technology at Edwards Lifesciences) as a new member of the Board of Directors.
LYMPHATICA will use the investment proceeds to start the clinical development and validation of LymphoDRAIN, its implantable device for the treatment of chronic lymphedema, which is one of the most common side effect of successful cancer treatment. Thanks to the Start-up Rescue Instrument from the EIT Health, Lymphatica will also improve the device connectivity through mobile apps.
Our technology has the potential to change the daily life of lymphedema patients, enabling efficient recirculation of lymph through a minimally invasive device.
Dr. Valentina Triacca, COO and cofounder of Lymphatica Medtech
More than 100 million people are struggling with lymphedema around the world, but an effective treatment has not yet been developed. The Company goal is to provide physicians with a solution to effectively treat their patients, significantly reducing the patient need of performing manual drainage therapy and wearing compression garments.
The new investment will allow us to proceed in our development plan, focusing on gathering the necessary clinical evidence to accelerate our path to market. We are proud to have experienced investors on board, sharing our vision.
Dr. Marco Pisano, CEO and co-founder
We were particularly impressed with the team’s structured approach to the development of a much-needed treatment innovation in lymphedema. We are pleased to accompany and support Lymphatica on their way forward.
Dr. Anke Caßing, Senior Investment Manager at High-Tech Gründerfonds
We are supporting Lymphatica Medtech through our COVID-19 start-up rescue instrument, which was launched to alleviate the financial shock posed by the pandemic. The idea is to allow promising start-ups to continue to close investment rounds that were previously planned but interrupted. Ours, and the support of other investors, will allow Lymphatica Medtech to continue with crucial advancement of their solution.
Kurt Höller, Director of Business Creation, EIT Health
As one of the first investors in Lymphatica and based on our own experience in breast cancer treatments, we are very pleased to have the next level investors on board to support the fabulous team of Lymphatica to progress this innovative and much needed treatment for the patients.
Henk de Wilde, CEO of LIVEventures
About Lymphatica Medtech
LYMPHATICA Medtech SA is a Swiss medical device company founded in July 2017. It is a spin-off of the Swiss Federal Institute of Technology, Lausanne (EPFL – École Polytechnique Fédérale de Lausanne) and of the Lausanne University Hospital (CHUV – Centre Hospitalier Universitaire Vaudois). The Company vision is to become the leader in the development and marketing of innovative medical devices for the treatment of lymphatic diseases.
LYMPHATICA has been supported by a number of institutions and programs, including the European Commission (EIC pilot), Innosuisse (Swiss Innovation Agency), FIT (Fondation pour l’innovation technologique), Canton Vaud (SPEI), VentureKick, Venture Leaders, MassChallenge (Gold Award), and >>venture>> (Business Plan Award).
More about Lymphatica Medtech SA: www.lymphatica.ch
About EIT Health
EIT Health is a network of best-in-class health innovators approximately 150 partners and is supported by the European Institute of Innovation and Technology (EIT), a body of the European Union. We collaborate across borders to deliver new solutions that can enable European citizens to live longer, healthier lives.
As Europeans tackle the challenge of increasing chronic diseases and multi-morbidity, and seek to realise the opportunities that technology offers to move beyond conventional approaches to treatment, prevention and healthy lifestyles, we need thought leaders, innovators and efficient ways to bring innovative healthcare solutions to market.
EIT Health addresses these needs. We connect all relevant healthcare players across European borders – making sure to include all sides of the “knowledge triangle”, so that innovation can happen at the intersection of research, education and business for the benefit of citizens.
EIT Health: Together for healthy lives in Europe.
For more information visit: www.eithealth.eu
LIVEventures is investing in the growth of early stage companies in the Life Sciences sector with both financial instruments and professional services. These services cover the entire value chain, such as business model optimization, product development support, quality management and market strategy support. LIVEventures are connecting the different stakeholders of the healthcare ecosystem led by their “shared passion for innovation and medical value”.
For more information visit: www.liveventures.ch
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge almost 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.7 billion into the HTGF portfolio via more than 1,600 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies.
Investors in the public-private partnership include the Federal Ministry of Economics and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies. The Fund Investors
Image: Valentina Triacca, Co-founder & COO, Marco Pisano, Co-founder & CEO © Lymphatica Medtech