Artiria Medical, a neurovascular start-up, closed a CHF 1.1 million bridge financing. The closing comes hot on the heels of the award of an EIC Accelerator grant of CHF2.7 million. The funding enables Artiria to significantly advance the clinical and regulatory deployment of its first product.
Globally, one in four people over age 25 will have a stroke in their lifetime. This disease most often leads to severe disabilities and death. Currently, the standard of care is based on a minimally invasive approach, using the patient's arteries as an access route to reach the lesion and locally deliver life-saving treatments. However, this procedure can be very challenging, as the device navigation takes place in a dense network of tiny brain arteries. This complexity causes surgeons to lose significant and critical time before they can effectively deliver the therapy. Artiria’s technology addresses this medical need with an elegant and innovative solution particularly well integrated into current clinical practice.
Today Artiria has announced that it secured a CHF 1.1 million bridge funding. Two weeks ago, SERI had already announced that the medtech start-up has been awarded a CHF 2.7 M grant from the highly selective EIC accelerator program. In total SERI funded 24 Swiss start-ups. The complete list with all start-ups was published in another article on Startupticker.ch.
With this additional CHF 3.8 million, Artiria will significantly advance the clinical and regulatory deployment of its first product. “We are thrilled to receive such a substantial grant from an extremely competitive program, probably one of the most challenging in Europe. This fantastic result would not have been possible without the strong commitment of our exceptional team.” said Guillaume Petit-Pierre, co-founder and Artiria’s CEO.
“We would like to thank our current investors for their contribution to this bridge financing round. Their constant support strongly contributes to accelerating our mission to bring disruptive innovations to the patients affected by stroke.” added Marc Boers, co-founder and COO of Artiria.
Swiss start-ups and SMEs currently have no access to the European Innovation Council’s (EIC) «Accelerator» funding programme. The Swiss Accelerator launched by Innosuisse fills the gap. Short applications may be submitted from 19 April until 10 May 2022 (12:00 CEST).
(Press release / SK)
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