Estonian medtech company Nanordica Medical has raised €1.75 million to enter the market with first-in-class wound care products curing severe wounds.
Nanordica Medical, founded in 2019, is a spin-off of the National Institute of Chemical Physics and Biophysics (Estonia).
It has developed an advanced antibacterial wound dressing, stemming from the scientific discovery of the co-founders revealing that the combination of copper with silver nanoparticles significantly enhances the antibacterial efficacy of both components and improves wound healing.
100 million patients suffer from chronic wounds such as diabetic foot, venous leg and pressure ulcers.
Moreover, the prevalence is increasing by 12 per cent annually due to the aging of the population and the increase in underlying diseases like diabetes and obesity. 1 million amputations worldwide are caused annually by these wounds, and most of them are related to poorly managed bacterial infection of wounds.
Patients with infected wounds are typically treated with systemic antibiotics or traditional antibacterials such as silver ion-based dressings or ointments.
The Nanordica Medical’s wound dressing inactivated bacterial infection up to 8x better compared to traditional antibacterial solutions.
Remarkably, the effect is achieved at very low concentrations, which is important because in this case antibacterial does not harm the patient’s skin cells.
A randomised controlled trial of developed wound dressing carried out on 30 patients with infected diabetic foot ulcers showed improved safety and twice as fast healing as one of the most widely used competing silver ion-based wound dressing.
According to co-founder and CEO of Nanordica Medical Olesja Bondarenko:
“We achieved a crucial milestone by demonstrating the safety and efficacy of our advanced wound dressing in patients with the most challenging wounds, diabetic foot ulcers. Our next goal is to get the product to the market and in the hands of patients.”
Nanordica Medical’s team is planning a multicentered study involving 170 patients with diabetic foot ulcers in Q2 2024. This will be one of the largest studies of its kind, paving the path to the inclusion of Nanordica Medical’s wound care products into the reimbursement and treatment guidelines.
The round was led by Estonian fund Specialist VC, with participation from Superangel and Amalfi.
According to Gerri Kodres, the Founder Partner of Specialist VC:
“We were inspired by the extraordinary determination and resilience of Nanordica Medical’s founder team. The company’s innovative wound care solution has the potential to positively impact the lives of chronic wound patients across the world.”
Nanordica Medical’s first product for veterinary use Ravimus Vet was launched in 2023, and the human product is planned to launch in 2025.
Lead image: Nanordica Medical. Photo: uncredited.
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