TripleMed raises over €2 million for innovative treatment of aortic aneurysmsseptember 21, 2017
TripleMed BV, an innovative startup focusing on the treatment of aortic aneurysms, has raised over €2 million venture capital. The funding round was led by Chemelot Ventures with co-investors Limburg Business Development Fund (LBDF), private investors and existing shareholders.
TripleMed recently completed the pre-clinical studies with very promising results. The €2 million Series A round enables TripleMed to perform clinical studies in aortic aneurysm treatment. TripleMed’s product – AneuFix- is an elastic polymer that fills and cures inside the aneurysm sac. Through this, leakage and further aneurysm sac expansion are prevented. Without diagnosis and treatment, rupture of the aneurysm sac has a mortality rate of over 75%.
Next to this the funding enables TripleMed to complete development of and clinically validate a second product. In this product, the same AneuFix polymer is used in combination with innovative Y-shaped balloon catheters, such that endografts are no longer necessary.
Using the results of the clinical study the company intends to apply for market approval in Europe (CE mark), as well as the US (FDA-IDE/PMA).
“We are very pleased with the new investors Chemelot Ventures and LBDF, and the reinforcement and professionalization of the team” says Tjeerd Homsma, CEO of TripleMed. “In the EU and US yearly over 100,000 critically ill patients are treated for aortic aneurysms. Despite the evident advantages of endovascular treatments using endografts, there are still many complications, predominantly caused by endoleaks and migration of endografts over time. With AneuFix we expect to prevent these complications leading to a great improvement of the aneurysm treatment for the patient and substantially lower health care costs.”
Marcel Kannekens, chairman of the Supervisory Board is pleased with the addition of the new shareholders: “TripleMed possesses breakthrough technology that addresses a huge market with a high medical need. Chemelot Ventures brings much more than only financial power. In this phase, the company also needs knowledge, experience and expertise in medical innovation and specialty polymers as well as commercial positioning in a complex international medical market”.
TripleMed was founded in 2011 by 3 reputed vascular surgeons: Brom, De Vries and Jacobs, and is located at the Brightlands Maastricht Health Campus. TripleMed aims to develop innovative and cost-effective solutions for the treatment of aortic aneurysms.