Medyria raises CHF3.7 million to bring its diagnostic device closer to market entry

Medyria AG, is a Medtech company leader in blood flow velocity sensing. The start-up based in Winterthur recently launched the development of the PyCath a novel microcatheter for the invasive diagnosis of ischemic heart conditions, including obstructed and non-obstructed coronary stenosis. The PyCath will be positioned as the only device on the market with pressure and blood flow velocity sensing, with superior usability and reliability, allowing the device to become the best-in-class device for full physiological assessment rapidly.

The first tranche of the Series B financing is a CHF 3.7M equity investment from new and existing investors. The leader of the investment round is Geneva-based Yellowstone Holding AG. EFI-Lake Geneva Ventures, Start Angels Network, Zürcher Kantonalbank and a series of independent business angels are also participating.

The funds will be used to bring the PyCath system from the current pre-clinical stage to the completion of the design, establishment of the production processes and initialization 510(k) FDA clearance process for access to the US market.

Mauro M. Sette, co-founder and CEO of Medyria, commented: “I would like to thank the lead Investor and the other investors for their renewed trust in Medyria. The PyCath system will be the next revolution in Interventional Cardiology Physiology, where current devices have insufficient performance to properly serve the burning clinical need. This injection of new capital will allow us to accelerate the development and bring the device to the market in the shortest possible time.”

Giovanni Leo, Medyria’s Board Memeber and Partner at EFI-Lake Geneva Ventures commented: “I am very confident that Medyria is on the right track to becoming the new star in the Interventional Cardiology market. We at Lake Geneva Ventures are fully committed to supporting the company and bringing this Swiss excellence to success.”

Amanda Chang, Manager at Yellowstone Holding AG commented: “Yelllowstone Holding is active in the EU and Swiss Medtech investment for many years. We are very selective with our investment. We truly believe in Medyria, a company based on a superior technology that can shape the future of cardiology.”

(Press release / SK)