Therapy Areas: Cardiovascular
French MedTech Tissium Raises EUR 50m in Series C Financing to Propel its Platform to Commercial Stage
1 September 2021 - - French medtech company Tissium has closed a Series C round of financing, raising EUR 50m from new and existing international investors, the company said.

Cathay Health, affiliated to global investment firm Cathay Capital, led new investors and joined other institutional and individual backers while existing shareholders were led by Sofinnova Partners, a historical cornerstone investor, reinforcing Tissium shareholding structure.

As part of the financing, Cathay Health co-founder and Managing Partner Hongjie Hu will be joining Tissium's board of directors.

This latest funding round coincides with a period of rapid growth at Tissium that is expected to continue as it scales its operations and adds to its executive team.

The financing will allow Tissium to continue to execute on its development plan, funding the company up to the commercialization of its leading nerve repair, hernia repair and cardiovascular sealant products.

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 is a privately-owned medtech company based in Paris, France and Boston, USA that is dedicated to the development and commercialization of a unique biopolymer platform to address multiple unmet clinical needs, including atraumatic tissue repair and reconstruction.

Tissium is developing a portfolio of solutions that leverage its proprietary family of fully biosynthetic, biomorphic and programmable polymers, which are the foundation of the company's technology platform.

Currently, the company has a pipeline of seven products across three verticals, including nerve repair, hernia and cardiovascular.

Each product is designed to enhance the tissue reconstruction process in a unique way.

The company also develops delivery and activation devices for enhanced performance and usability of its products.

Tissium's technology is based on world-class research and intellectual property from the laboratories of Professor Robert Langer and Professor Jeffrey M. Karp (Brigham and Women's Hospital), who co-founded the company in 2013.

Cathay Capital Group is a global investment firm supporting companies at all stages throughout North America, Asia, Europe and Africa.

Affiliated to Cathay Capital, Cathay Health is a global cross-border platform investing at the convergence of healthcare, life sciences and technology.

Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages over USD 4.2bn in assets, has completed over 180 buyouts, growth and venture capital investments with global reach and local expertise across Paris, London, Munich, New York, Boston, San Francisco, Shanghai, Beijing, Singapore and Shenzhen.

Sofinnova Partners is a European venture capital firm in life sciences, specializing in healthcare and sustainability.

Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise.