MyoPowers Medical Technologies Closes CHF16M Series B Financing Round
MyoPowers Medical Technologies SA, a Lausanne, Switzerland-based medical device company developing artificial muscle technologies to treat sphincter dysfunction and incontinences, has closed a CHF 16m Series B financing round.
The round was led by Truffle Capital, with participation from BlueOcean Ventures and two private investors, as well as existing backers Novartis Venture Funds, Gran Plasa SA and Initiative Capital Romandie.
The company, which is currently preparing for clinical trials to obtain CE mark in Europe, intends to use the funds to bring its technology to the market in Europe.
Founded by Dr Piergiorgio Tozzi, MD, of the University Hospital of Lausanne (CHUV), Switzerland and Professor Daniel Hayoz of the Cantonal Hospital of Fribourg and the CHUV and led by CEO Martin Horst, MyoPowers has developed an artificial muscle technology whose initial focus is on treatment of severe incontinences.