The EPFL spin-off has announced the closing of a seed round led by investiere and joined by Zürcher Kantonalbank, NEST pension fund as well as private investors. Comphya appointed Steve Swinson as Chairman of the Board.
Comphya, a developer of a novel implantable neurostimulator to treat erectile dysfunction in non-responders to oral drugs, announced the fundraising of 3 million US-Dollars in a seed investment round. The round was led by investiere and joined by Zürcher Kantonalbank, NEST pension fund as well as private investors. «We’re convinced that Comphya’s approach has a very large potential in an underserved market», says Susanne Schorsch, investment manager at investiere.
Comphya will use the capital to complete product development and to fund a pilot clinical trial. First clinical results are expected in 2020.
The startup also announced the appointment of Steve Swinson as Chairman of the Board. Mr. Swinson has previously held senior executive positions at GE and Medtronic. «I am very pleased to join the innovative Comphya team and look forward to the start of our pilot clinical trial and our ultimate goal to offer a unique and superior treatment», Mr. Swinson comments.
(Press Release)
(Picture: Pixabay)
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