French biotech startup TISSIUM secures $42.78 to invent the next generation of synthetic polymers for tissue reconstruction
TISSIUM, a biotech startup developing biodegradable sealants and adhesives for wound closure in the field of minimally-invasive surgery, announced today it has closed $42.78 million (€38.75 million) in a Series B round of funding. Backers for this round include new investors BNP Paribas Développement, the European Investment Fund (EIF), M&L Investments, ValQuest Partners in addition to TISSIUM’s returning investors Bpifrance, CM-CIC Innovation, CapDecisif Management, Omnes Capital and Sofinnova Partners. Along with the funding, TISSIUM also announced that Jay Watkins, a serial Medtech entrepreneur and executive, is joining its Board of Directors as Independent Chairman.
The funding proceeds will be used to support the TISSIUM’s global expansion of its platform of polymers across a variety of therapeutic fields, including nerve repair, cardiovascular and gastroenterology, among others. In addition to supporting the growth of the platform, the funding is expected to support the broader strategy of creating a streamlined clinical development and regulatory process across multiple geographies.
The TISSIUM platform leverages proprietary technology, initially developed at the Massachusetts Institute of Technology (MIT) & Brigham and Women’s Hospital, Harvard Medical School, that serves as the foundation of a family of fully synthetic, biomorphic and programmable polymers. These polymers are designed to be used inside the body as sealants, adhesives, barriers, plugs or as a vehicle for drug delivery, as well as implantable devices created outside of the body using 3D printing technology.
Founded in 2013 by Bernard Gilly, Christophe Bancel, Jeff Karp, Maria Pereira, Robert Langer, the Paris, France-based TISSIUM is dedicated to the rapid development and the commercialization of revolutionary biodegradable sealants and adhesives for wound closure in the field of surgery, with a key focus on minimally invasive surgery. TISSIUM is developing products that are non-toxic, bind strongly to tissues and deliver ‘on-demand’ wound closure within the ‘wet’ and dynamic environments in the body.
“This new round of funding is a testament to the support we continue to receive from investors for our strategy and vision for the broad TISSIUM ecosystem of products that we have in development. We look forward to moving swiftly towards multiple verticals and expanding into new clinical fields in the coming months,” Christophe Bancel, CEO of TISSIUM, said.