MIT-founded regenerative polymer developer Tissium will put the capital into clinical-stage development and toward regulatory clearance in multiple markets.
Tissium, a France-based developer of regenerative synthetic polymers spun out of Massachusetts Institute of Technology (MIT), closed a €38.8m ($42.8m) series B round featuring government-owned investment bank Bpifrance yesterday.
BNP Paribas Développement, an investment subsidiary of financial services firm BNP Paribas, also took part in the round together with the EU-owned European Investment Fund, M&L Investments, Valquest Partners, CM-CIC Innovation, CapDecisif Management, Omnes Capital and Sofinnova Partners.
Founded in 2013 as Gecko Biomedical, Tissium has devised a synthetic polymer material that can be used to restore damaged tissues in the body.
The polymers are biomorphic, binding to their target to engender natural healing for purposes including medical repair procedures, implantable devices and drug delivery.
The technology was developed by co-founders Robert Langer, the David H. Kock Institute professor at the MIT Department of Chemical Engineering, and Jeff Karp, professor of medicine at Brigham and Women’s Hospital…
