News Contact Us

TISSIUM secures close to EUR 39 million in Series B funding round

Author : Pankaj Singh | Published Date : 2019-11-21 

The latest funding will be used to accelerate the global expansion of TISSIUM’s platform of polymers.

TISSIUM has reportedly announced that it has secured €38.75 million ($42.78 million) in a Series B funding round. New investors including the European Investment Fund (EIF), BNP Paribas Développement, ValQuest Partners, and M&L Investments, participated in the funding. Also, returning investors included CM-CIC Innovation, Bpifrance, Omnes Capital, Sofinnova Partners, and CapDecisif Management, who  supported the funding round.

The latest funding will be used to accelerate the global expansion of TISSIUM’s platform of polymers. The company will examine application of polymers in therapeutic fields, such as cardiovascular, gastroenterology, and nerve repair, among others.

The proprietary technology used by TISSIUM platform was initially developed at the Massachusetts Institute of Technology (MIT) & Brigham and Women’s Hospital. The technology caters to the foundation of a group of fully synthetic, programmable, and biomorphic polymers. These polymers are developed to be used as adhesives, sealants, barriers, a vehicle for drug delivery, or plugs inside the body. The design of the polymers being built using 3D printing technology also allows them to be used outside the body as implantable devices.

Tissium  intends to use the amount raised by funding to manage clinical development programs and regulatory process targeting multiple geographies. The company will focus on its newly inaugurated Boston affiliate office to support the globalization of its outlook.

Jay Watkins, a serial MedTech entrepreneur and executive, will join Board of Directors of TISSIUM as Independent Chairman after the completion of the Series B funding. 

Jay Watkins,  apparently stated that he is grateful to join the company as Chairman and amazed with the wide-ranging applications of biomorphic programmable polymers across various therapeutic fields.

Christophe Bancel, CEO, TISSIUM, was quoted saying that the latest round of funding is an indication of the support extended by investors towards the company for its strategy and vision for the broad ecosystem of TISSIUM’s products. The company has been looking forward to moving rapidly towards numerous verticals and developing into new clinical fields in the upcoming months.

Source links:


About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

The Hop to deploy 35 smart kiosks to support streetcar operations

Published Date: 2020-02-22         Author: Pankaj Singh

The Hop, a modern fixed-transit network, has reportedly collaborated with Smart City Media LLC to execute a smart kiosk transport program that is developed to aid streetcar operations while promoting stronger networks between streetcar routes and key activity centers throughout the central business ... Read More

Qantas warns of a $99Mn financial impact due to coronavirus outbreak

Published Date: 2020-02-21         Author: Pankaj Singh

While most of the coronavirus instances have been observed in China, the global aviation industry is seen to be cautious about the dangerous virus. A new report from Qantas Airways Limited, an Australian airline has put some estimated numbers regarding the financial impacts of the coronavirus, ... Read More

Roche’s Tecentriq bags priority review for treating advanced NSCLC

Published Date: 2020-02-20         Author: Pankaj Singh

Swiss multinational pharmaceutical company, Roche has recently revealed that the U.S. FDA has acknowledged its sBLA (supplemental Biologics License Application) and approved Priority Review for Tecentriq® (atezolizumab) as an initial monotherapy for patients suffering from advanced NSCLC (non-sq... Read More

© 2020 Fractovia. All Rights Reserved