Tissium, a Paris, France-based life science company developing fully synthetic, biomorphic programmable polymers, raised €38.75m ($42.78m) in Series B funding.
Backers included new investors BNP Paribas Développement, the European Investment Fund (EIF), M&L Investments, ValQuest Partners and returning investors Bpifrance, CM-CIC Innovation, CapDecisif Management, Omnes Capital and Sofinnova Partners.
Following the completion of the Series B, Jay Watkins, a serial Medtech entrepreneur and executive, is joining Tissium’s Board of Directors as Independent Chairman.
The company intends to use the funds for global expansion of its platform of polymers across a variety of therapeutic fields, including nerve repair, cardiovascular and gastroenterology, among others, and for the creation of a streamlined clinical development and regulatory process across multiple geographies opening a Boston affiliate office.
Led by Christophe Bancel, CEO, Tissium provides a platform that leverages proprietary technology, initially developed at the Massachusetts Institute of Technology (MIT) & Brigham and Women’s Hospital, Harvard Medical School, to build a family of fully synthetic, biomorphic and programmable polymers. These polymers are designed to be used inside the body as sealants, adhesives, barriers, plugs or as a vehicle for drug delivery, as well as implantable devices created outside of the body using 3D printing technology.
Streamlined innovation and product development will also be simplified as a result of the completion of TISSIUM’s state-of-the-art manufacturing facility in Lille, France.
The company’s technology is based on research and intellectual property from the laboratories of Professor Robert Langer (MIT) and Professor Jeffrey M. Karp (Brigham and Women’s Hospital), who co-founded the company in 2013.