BioMedTech will work to establish approximately a dozen spinouts from European and American universities, with a particular focus on France.
France-based venture capital firm Truffle Capital yesterday closed a €250m ($278m) vehicle called BioMedTech that will focus on research commercialisation in Europe and the US.
Limited partners were not identified, though Truffle Capital revealed that approximately 60% of capital originated from France and the remainder was provided by international investors.
BioMedTech will collaborate with unspecified European and American universities – with a focus on France – to establish approximately 12 spinouts in the medical devices and robotics sectors. It is particularly interested in the field of minimally-invasive surgery.
The fund has already founded five companies.
HoliStick Medical, is working on a biodegradable patch to repair heart tissue without requiring open-heart surgery. The technology was licensed from Harvard University’s Office for Technology Development after being developed at the Wyss Institute.
Skinosive is developing dermo-cosmetics technologies to prevent skin cancers based on research at Yale University.
Other companies include Artedrone, which is building autonomous micro-robots to prevent and treat strokes, Bariatek, which aims to commercialise non-invasive medical devices to tackle diabetes and obesity, and PKMed, which is creating smart bioactive implants.
Philippe Pouletty, chief executive of Truffle Capital, said: “Our investment strategy is designed to allow clinicians to treat patients more effectively and in a less traumatic way with revolutionary products, allowing patients to enjoy better and longer lives, and payers to reduce health costs.”