NanoPowers SA, a Lausanne, Switzerland-based medical device company, closed a CHF5m (approximately $4.5m) series A financing.The round was led by seed investors in the company Novartis Venture Funds (NVF), with participation from Initiative Capital Romandie (ICR) and Gran Plasa SA.
The company, which develops its artificial muscle technology to restore or improve muscle function, will use the capital to finalize the development of its lead product, ARTUS, an innovative artificial urinary sphincter to treat severe incontinences, and initiate the first clinical studies.
NanoPowers was founded by Piergiorgio Tozzi, MD, of the University Hospital of Lausanne, who is the chairman of the company’s board of directors, and Professor Daniel Hayoz, of the Cantonal Hospital of Fribourg and the CHUV, who is a director.
FinSMEs
01/06/2010