Business Wire

TISSIUM Raises €50M in Series C Financing to Propel its Platform to Commercial Stage

Share

TISSIUM, a privately-owned medtech company developing biomorphic programmable polymers for tissue reconstruction, announced it has closed a Series C round of financing, raising €50 million from new and existing international investors. Cathay Health, affiliated to global investment firm Cathay Capital, led new investors and joined other institutional and individualbackers while existing shareholders were led by Sofinnova Partners, a historical cornerstone investor, reinforcing TISSIUM shareholding structure. As part of the financing, Cathay Health Co-founder and Managing Partner Hongjie Hu will be joining TISSIUM’s board of directors.

This latest funding round coincides with a period of rapid growth at TISSIUM that is expected to continue as it scales its operations and adds to its executive team. The financing will allow TISSIUM to continue to execute on its development plan, funding the company up to the commercialization of its leading nerve repair, hernia repair and cardiovascular sealant products.

As TISSIUM adds to its platform with products in new therapeutic areas, it will continue to pursue rapid international expansion, leveraging in-house production and state-of-the-art manufacturing facilities, as well as entering partnerships in certain verticals.

Christophe Bancel, CEO of TISSIUM, said, “With the closing of our Series C financing round, TISSIUM is well-positioned to take the next steps to commercialization. This funding significantly bolsters our ability to move with speed towards our goal of enhancing tissue reconstruction for patients. This financing will contribute significantly to TISSIUM’s ability to take advantage of the variety of opportunities we have to advance our innovation in this space.”

Antoine Papiernik, Managing Partner at Sofinnova Partners, said, “At Sofinnova Partners, we have been convinced since the beginning of TISSIUM’s potential to revolutionize tissue repair and bring a truly innovative solution for patients worldwide. We are pleased to be joined by Cathay Health and other investors who share this vision as we continue to support TISSIUM and provide the means for this exceptional team to pursue its development and prepare the commercialization of its lead products.”

Hongjie Hu, Co-founder and Managing Partner of Cathay Health, said, “TISSIUM is creating the future of tissue reconstruction on all continents. Its expandable platform is solving for widespread problems in surgeries addressing the needs of atraumatic repairs and can be applied to multiple, large, unmet therapeutic areas. As a cross-border investment platform spanning the US, Europe and Asia, we look forward to bringing the global outlook, resources and health ecosystem to support TISSIUM’s brilliant team in its international expansion and for the next steps toward commercialization and growth.”

About TISSIUM:

TISSIUM is a privately-owned medtech company based in Paris, France and Boston, USA that is dedicated to the development and commercialization of a unique biopolymer platform to address multiple unmet clinical needs, including atraumatic tissue repair and reconstruction.

TISSIUM is developing a portfolio of solutions that leverage its proprietary family of fully biosynthetic, biomorphic and programmable polymers, which are the foundation of the company’s technology platform. Currently, the Company has a pipeline of seven products across three verticals, including nerve repair, hernia and cardiovascular. Each product is designed to enhance the tissue reconstruction process in a unique way. The company also develops delivery and activation devices for enhanced performance and usability of its products.

TISSIUM’s technology is based on world-class 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.

For more information, please visit: www.TISSIUM.com
Follow us on LinkedIn, Twitter @TISSIUMtech.

About Cathay Health and Cathay Capital Group:

Cathay Capital Group is a global investment firm supporting companies at all stages throughout North America, Asia, Europe and Africa. Affiliated to Cathay Capital, Cathay Health is a global cross-border platform investing at the convergence of healthcare, life sciences and technology. By helping navigate the opportunities of globalization and sustainable transformation, Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its global platform connects people – from investors and entrepreneurs to management teams and leading corporations – across continents to share knowledge, the tools to scale, and achieve the extraordinary. Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages over $4,2B in assets, has completed over 180 buyouts, growth and venture capital investments with global reach and local expertise across Paris, London, Munich, New York, Boston, San Francisco, Shanghai, Beijing, Singapore and Shenzhen.

For more information, please visit www.cathaycapital.com
Follow us on LinkedIn, Twitter @CathayCapital

About Sofinnova Partners:

Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.

Founded in 1972, Sofinnova Partners is a deeply-established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2 billion under management.

For more information, please visit: www.sofinnovapartners.com

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Investor relations
Romain Attard – Chief Financial Officer
Tel: +33 1 76 21 72 28
rattard@tissium.com
Twitter: @TISSIUMtech

Press
Jeanene Timberlake
Tel: +1 646-770-8858
jtimberlake@rooneypartners.com

Yoann Besse
Tel: +33 6 63 03 84 91
yoann.besse@citigatedewerogerson.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Celltrion’s monoclonal antibody treatment for COVID-19, regdanvimab (CT-P59) becomes the first authorized COVID-19 treatment approved from the Korean Ministry of Food and Drug Safety (MFDS)18.9.2021 15:34:00 CEST | Press release

Celltrion Group announced that the Korean Ministry of Food and Drug Safety (MFDS) approved regdanvimab (CT-P59), a monoclonal antibody treatment for COVID-19 for the extended use in elderly patients aged 50 years and over, or with at least one underlying medical condition (the obese, cardiovascular disease, chronic lung disease, diabetes, chronic kidney disease, chronic liver disease, and patients with immunosuppressive agents) with mild symptoms of COVID-19, and adult patients with moderate symptoms of COVID-19. This marks the first time a monoclonal antibody treatment for COVID-19 has received a full approval to treat patients with COVID-19 from the Korean MFDS. In February, the Korean MFDS granted a Conditional Marketing Authorisation (CMA) for the emergency use of regdanvimab (CT-P59) and allowed the use of CT-P59 in adult patients aged 60 years and over, or with at least one underlying medical condition (cardiovascular, chronic respiratory disease, diabetes, high blood pressure) w

Ipsen: ESMO 2021: Cabometyx ® Demonstrates Sustained 78% Reduction in Risk of Disease Progression or Death in People Living With Uncommon Form of Thyroid Cancer18.9.2021 06:30:00 CEST | Press release

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced presentation of new analyses at the European Society for Medical Oncology (ESMO) Congress 2021 across different forms of cancer for people treated with Cabometyx® (cabozantinib). Of note, the final analysis of the pivotal Phase III COSMIC-311 trial (Abstract LBA67) will be presented, with Cabometyx demonstrating a clinically meaningful, sustained efficacy benefit versus placebo in people living with previously treated radioactive iodine-refractory differentiated thyroid cancer (RAI-R DTC). With a median follow-up of 10.1 months, Cabometyx continued to demonstrate superior median progression-free survival (mPFS) with a reduction in the risk of disease progression or death of 78% versus placebo (hazard ratio [HR]: 0.22, 96% confidence interval [CI]: 0.15-0.32; p<0.0001).1 This final analysis is consistent with data from the interim analysis, presented at the American Society of Clinical Oncology (ASCO) Annual Meeting 2021

Unifrax Hosts Groundbreaking Ceremony for SiFAB™ Manufacturing Line17.9.2021 20:46:00 CEST | Press release

Today, Unifrax, a leading manufacturer of high-performance specialty materials, held a ceremonial event celebrating its first large-scale SiFAB™ Silicon Fiber Anode Battery Technology manufacturing line, which is currently under construction at the company’s north central Indiana facility. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210917005495/en/ Unifrax team celebrates SiFAB groundbreaking at New Carlisle plant. (Photo: Business Wire) The event recognized Unifrax’s ongoing partnership with the State of Indiana and St. Joseph County, along with SiFAB’s continued progress. Unifrax executives, along with the SiFAB manufacturing team and local and state government officials, kicked off the ceremony at 10 a.m. EDT at the New Carlisle, IN plant, with remarks by John Dandolph, president and CEO, Unifrax. “Through the support of the State of Indiana and St. Joseph County, we have the ability to leverage our existing New Carli

Prince William announces 15 Finalists for inaugural year of the £50 million Earthshot Prize17.9.2021 19:01:00 CEST | Press release

The Earthshot Prize announces today its first-ever shortlist of 15 Finalists, each with a chance of winning £1million to support their innovative environmental solutions to the greatest challenges facing the planet. Prince William said: "Over half a century ago, President Kennedy’s ‘Moonshot’ programme united millions of people around the goal of reaching the moon. Inspired by this, The Earthshot Prize aims to mobilise collective action around our unique ability to innovate, problem solve and repair our planet. “I am honoured to introduce the 15 innovators, leaders, and visionaries who are the first ever Finalists for The Earthshot Prize. They are working with the urgency required in this decisive decade for life on Earth and will inspire all of us with their optimism in our ability to rise to the greatest challenges in human history.” Launched by Prince William and The Royal Foundation in October 2020, The Earthshot Prize is the most prestigious global environment prize in history. Li

Wipro Announces Co-innovation Space with Google Cloud17.9.2021 15:32:00 CEST | Press release

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced the launch of the Wipro-Google Cloud Innovation Arena in Bangalore, India. This cloud collaboration space will provide in-house technical expertise, ensure seamless cloud adoption, and accelerate innovation to drive business transformation for customers. By combining the expertise and resources of Wipro FullStride Cloud Services and Google Cloud, this jointly developed innovation center will offer a unique combination of people, processes, and platforms that will collectively create a futuristic experience for customers globally. This state-of-the-art arena will showcase the talent, tools and best practices required to develop and deploy applications on Google Cloud. Jason Eichenholz, Senior Vice President, Global Head of Ecosystems & Partnerships, Wipro Limited said, “We are excited to strengthen our partnership with Google Clou

Zynga Announces ReVamp, the First Multiplayer Social Deception Game For Snapchat17.9.2021 15:00:00 CEST | Press release

Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, announced today that ReVamp, an upcoming multiplayer social deception game, will launch soon in select markets exclusively for Snapchat. The vampire-themed game will be the first social deception title on Snapchat, giving Snapchatters their first chance to sink their teeth into this popular genre. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210917005012/en/ Zynga Announces ReVamp, the First Multiplayer Social Deception Game For Snapchat (Graphic: Business Wire) ReVamp is a real-time multiplayer imposter game where players aim to reveal who the vampire player is among their group of friends while they renovate the rooms of an old mansion. In the game, human players must complete renovation tasks, such as demolition and building, to improve their chances of survival while identifying and defeating the vampire during the voting phase. Vampire players mu

BeiGene Receives Positive CHMP Opinion for BRUKINSA ® (Zanubrutinib) for the Treatment of Adults with Waldenström’s Macroglobulinemia17.9.2021 14:00:00 CEST | Press release

BeiGene (NASDAQ: BGNE; HKEX: 06160) today announced the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion, recommending approval of BRUKINSA (zanubrutinib) for the treatment of adult patients with Waldenström’s macroglobulinemia (WM) who have received at least one prior therapy or first-line treatment for patients unsuitable for chemo-immunotherapy. “Bruton’s tyrosine kinase (BTK) inhibitors have emerged as a promising treatment for WM, yet treatment discontinuation due to lack of response or side effects remains a concern,” said Prof. Christian Buske, Medical Director at the University Hospital Ulm, Germany, and a trial investigator of the ASPEN study. “The ASPEN trial demonstrated that BRUKINSA provided deep and durable responses and offered substantial improvements in safety and tolerability over standard therapy. Patients in Europe with WM may soon have a new treatment option that can offer improved outcomes.

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom