Paris-based Tissium, a privately-owned medtech company that develops Biopolymers for tissue reconstruction, announced that it has raised €50M in its Series C round of funding.
The round was led by Cathay Health, affiliated to investment firm Cathay Capital, and joined by other institutional and individual backers. Existing investor Sofinnova Partners also participated in this round.
With this investment, Cathay Health co-founder and managing partner Hongjie Hu will be joining Tissium’s board of directors.
Hu says, “Tissium is creating the future of tissue reconstruction on all continents. Its expandable platform is solving widespread problems in surgeries addressing the needs of atraumatic repairs and can be applied to multiple, large, unmet therapeutic areas. We look forward to supporting Tissium’s team in its international expansion and for the next steps toward commercialisation and growth.”
The proceeds from this round will help Tissium to continue scaling its operations and increasing its workforce. The funds will also help it to commercialise its nerve repair, hernia repair, and cardiovascular sealant products.
With product development in therapeutic areas, Tissium (Biopolymers for tissue reconstruction) will continue to expand its services in international markets, leveraging in-house production and manufacturing facilities, as well as entering into partnerships in certain verticals.
Speaking on the development, Christophe Bancel, CEO of Tissium, says, “With the closing of our Series C financing round, Tissium is well-positioned to take the next steps to commercialisation. This funding significantly bolsters our ability to move with speed towards our goal of enhancing tissue reconstruction for patients. This financing will contribute significantly to Tissium’s ability to take advantage of the variety of opportunities we have to advance our innovation in this space.”