Hy2Care caresses $4.1m

Hy2Care, a Netherlands-based tissue repair gel developer spun out of University of Twente, has obtained €3.7m ($4.1m) in a series A round backed by medical lobby Dutch Arthritis Foundation.
Independent regional venture fund Brightlands Venture Partners led the transaction through its director, Marcel Kloosterman, with participation from multiple unnamed investors.
Founded in 2014, Hy2Care is working on injectable hydrogels that repair defects in the cartilage, the connective tissue found in areas of the body including joints, bronchial tubes and between the vertebrae of the spine.
Hy2Care’s hydrogel is formed from a mixture of natural polymer conjugates that cause a mild enzymatic reaction when combined at the site of the cartilage defect.
The spinout believes its technology offers better functionality and pain relief than orthopaedic alternatives such as arthroscopic debridement, which involves surgically removing torn fragments of the cartilage so that the remaining surface can be smoothed over.
The hydrogels could reduce the need for follow-up surgical procedures and check-ups. Hy2Care will initially focus on cartilage defects in the knee, however its approach could have a number of other uses in areas such as cell therapy and bioprinting.
The series A capital will help the spinout drive the commercialisation of veterinary applications and begin clinical studies of the hydrogels for humans.
Hy2Care plans to open new offices and lab space in the south of Limburg, the site of Brightlands Venture Partners’ investment focus, and has appointed Leo Smit, who has experience with joint repair and biomaterials, as its new chief executive.
Hy2Care’s technology was devised by a team of University of Twente researchers supervised by Marcel Karperien, a professor in developmental bioengineering.
University of Twente owns share capital in Hy2Care through its entrepreneurship accelerator, Novel-T, and the spinout is also listed in the portfolio of independent accelerator network Startupbootcamp.