French innovator in the field of digestive surgery and developer of the Colovac device, SafeHeal has raised €40 million funding. The round was co-led by European venture capital firm Sofinnova Partners and Singapore-based Genesis MedTech Group.
Founded in 2015 in Paris, the early-stage medical device company develops Colovac, a device invented by a French digestive surgeon, Dr. Charam Khosrovani, to obviate the need for a digestive ostomy in patients undergoing colorectal surgery.
Talking about the additional cash flow, Karl-Heinz Blohm, CEO, SafeHeal said: "This investment enables SafeHeal to bring Colovac one step closer to becoming a standard of care for patients."
"This collaboration will accelerate the development of this world-class endoluminal bypass sheath, benefiting both patients and practitioners," said Warren Wang, Chairman and CEO, Genesis MedTech Group.
"This round of financing marks the beginning of a new phase in SafeHeal's strategic development. The company has come a long way since it was founded by the MD Start II team, which now leads Sofinnova's in-house medtech accelerator," said Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners.