Comphya raises funds for clinical trials

The proceeds of this fundraise will secure the start of the pilot clinical trials in Q1 2023, a major milestone for Comphya. Indeed, clinical data from these pilot studies is critical to bring out the CaverSTIM system to benefit patients with ED. The pilot clinical trials will assess the safety and preliminary efficacy of the CaverSTIM device.

Rodrigo Fraga-Silva, CEO and co-founder of Comphya commented “We are pleased to execute on our clinical roadmap and start the clinical trials in Australia, Brazil, US and France. These trials will provide essential data for prostatectomy, spinal cord injury and general ED patients.”

The financial round included investment from existing shareholders and additional investors. Praxis Spinal Cord Institute, a non-profit organization, also committed to participate in this financing round. Praxis is an advocacy group which aim is to accelerate the translation of discoveries into improved treatments to benefit people living with spinal cord injuries (SCI). Praxis’ support strengthens Comphya’s mission to bring a better solution to SCI individuals and their partners.

CaverSTIM is the first implantable neurostimulator to restore erectile function. This new technology is primarily intended for patients that are non-responders to oral drugs such as spinal cord injured patients or postprostatectomy patients. CaverSTIM is a neurostimulation system composed of an implantable pulse generator (IPG), containing the rechargeable battery and electronics responsible for the generation of the electrostimulation signal; and connected to two electrodes array (with several electrodes) to be implanted in the pelvic cavity and which will activate and restore the nerves responsible for penile erection.

(Press release / SK)