Hy2Care, a Geleen, the Netherlands-based company that is advancing an injectable hydrogel, raised €4.5M in funding.
Half of the funding came from the European Innovation Council (EIC) Fund investment awarded to Hy2Care in 2022 as part of the EIC Accelerator. The remainder was raised from Hy2Care’s existing shareholders, led by Brightlands Venture Partners, with participation from new investors including LIOF, the regional development agency for Limburg.
The company intends to use the funds to complete critical preparations for its upcoming clinical trial in the United States.
Led by CEO Leo Smit, Hy2Care is a spin-off company of the MIRA Institute of the University Twente, the Netherlands, an institute specialized in biomedical and chemical engineering to develop an injectable hydrogel that enables natural repair of damaged cartilage. Its CartRevive hydrogel implant clinical trial has completed patient enrolment for its EU trial in 2024 and CE marking / European market approval is anticipated by early 2026.
FinSMEs
19/05/2025