TISSIUM, a privately-owned medtech company developing biomorphic programmable polymers for tissue reconstruction, announced it has closed a Series D round of financing, raising €50 million from new and existing international investors, including Fonds Stratégique des Transitions, managed by ISALT, Merieux Developpement and returning Cathay Health, Credit Mutuel Innovation and Sofinnova Partners.
This latest funding round coincides with a period of important milestones for TISSIUM, notably its ongoing first-in-human study on its first nerve repair product, COAPTIUM Connect, in Australia and multiple ongoing regulatory activities. The financing will allow TISSIUM to continue to execute its development plan, funding the company for the commercialisation of its first products in nerve and hernia repair and fueling the extension of its pipeline of products and its platform. In August 2021 TISSIUM announced its Series C funding, raising €50 million.
Christophe Bancel, CEO of TISSIUM, said, “With the closing of our Series D financing round, TISSIUM is well-positioned to finance the commercialization of its first products. This funding significantly bolsters our ability to move with speed towards our goal of enhancing tissue reconstruction for patients. We look forward to continuing our work to bring innovation in the space and develop products that make a difference in patients’ lives.”
As TISSIUM adds to its platform with products in new therapeutic areas, it will continue to pursue rapid international expansion, leveraging in-house production and state-of-the-art manufacturing facilities, as well as entering partnerships in certain verticals.
TISSIUM was founded in 2013 to address one of the most persistent medical challenges since the inception of surgical procedures: to reconstruct damaged tissue and restore its natural function. Since the discovery of their first polymer at the labs of Bob Langer and Jeff Karp at MIT, they recognized the exceptional potential for their technology to revolutionize the field of tissue reconstruction in multiple therapeutic areas.
The Paris and Boston-based company is developing a portfolio of products that leverage its proprietary family of fully biosynthetic, biomorphic, and programmable polymers, which are the foundation of the company’s technology platform. Currently, the TISSIUM has a pipeline of seven products across three verticals, including sutureless nerve repair, hernia repair and cardiovascular sealants. Each product is designed to enhance the tissue reconstruction process in a unique way. In addition, the company develops complementary delivery and activation devices for enhanced performance and usability of its products.