Zurich spinout Xeltis raises an additional $3.25m to continue development of its dissolvable implants.
Xeltis, a medical device company spun out of Zurich University, has raised an additional €3m ($3.25m) for its series B round, bringing the total for the round to €30m.
Xeltis was created in 2006 as a spinout from Zurich University. The company is developing cardiovascular valves and vessels that safely dissolve once a patient’s body has healed.
Xeltis has completed two successful feasibility trials for the technology and will conduct a clinical trial next year.
The series B round has been backed by private equity firm Kurma Partners and venture capital firms Life Sciences Partners and VI Partners.
Laurent Grandidier, chief executive of Xeltis, said: “In 2015 we have further strengthened our technology potential, our finances, our executive team and our board and I am very honoured by the business and public recognitions, which are beginning to establish a track record for our remarkable venture.”
Michel Darnaud, chairman for Xeltis, said: “Xeltis is one of the most innovative and fast-paced companies I have come across in my career. Its potential to change the standard of care in cardiovascular treatment is striking.”
