Dutch medtech firm Xeltis has secured €12.5 million in funding from the European Innovation Council (EIC) Fund. This brings Xeltis' total amount raised, to date, to €44.5 million. Its investors include DaVita Venture Group, EQT Life Sciences, Kurma Partners, VI Partners, and Ysios Capital, as well as Grand Pharma Group and several public and private investors.
The firm develops implants that enable the natural creation of living and long-lasting vessels and has ongoing trials in coronary artery bypass graft and vascular graft - using an 'advanced polymer implant which regenerates the patient’s own tissue before gradually being absorbed and leaving new, living and long-lasting vessels in place'. The funding will support the continuation of such trials.
“It is the ambition of the European Innovation Council (EIC) Fund to invest in European companies that develop cutting-edge technologies with high impact. Xeltis, with their restorative medical device technology, is an excellent example of such a company, which the EIC Fund invests in to support their potential to scale and grow their business," says Svetoslava Georgivea, Chair of the EIC Fund Board.
“Securing this additional investment from the EIC is an important validator of Xeltis’ work to enable a better standard of care for patients with major life-threatening diseases through our transformative vascular implants. We look forward to providing updates from our pivotal aXess trial in due course, with enrollment progressing well," says Eliane Schutte, CEO of Xeltis.
Main image: Xeltis’ implant (source: Xeltis)
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