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MedTech Company STENTiT Raises €1.8 million in Seed Round

Written by Tiffany on . Posted in Uncategorized. No Comments on MedTech Company STENTiT Raises €1.8 million in Seed Round

EINDHOVEN, Netherlands, April 25, 2022 /PRNewswire/ — STENTiT, a medical device company bringing a novel class of regenerative endovascular implants for the treatment of cardiovascular diseases, has closed a €1.8 million seed investment round. The funding facilitates further pre-clinical development and batch production of a regenerative stent (see video) for peripheral indications. The investment was made by Dutch investors NextGen Ventures, Brabant Development Agency (BOM) and the Ten Cate Investment Company.

STENTiT is an emerging player in the field of regenerative medical devices, offering a breakthrough solution for cardiovascular interventions by developing first-of-its-kind endovascular implants with regenerative capacity. Using a catheter-based approach, these devices provide the ability to restore arteries without the need for an invasive surgical intervention. The aim is to ultimately restore the affected blood vessel from the inside out to provide a lifelong solution.

As a first target indication, the company wants to improve the treatment of critical limb ischemia. This progressive form of peripheral artery disease affects almost 5 million people in the EU and the US in which the blood flow to the foot is severely being compromised. Unfortunately, current treatment options are ineffective, resulting in amputation within 6 months in 40% of these patients.

With the regenerative stent, blood flow to the foot will be maintained by securing vascular patency using temporary mechanical support and improving long-term efficacy by inducing vascular repair, thereby preventing thousands of amputations each year.

Bart Sanders, CEO of STENTiT, said: 

“We are excited to receive the support of these esteemed Dutch early-stage investors. This financing round validates our vision to bring a novel class of implants that can rebuild the affected blood vessels. We are looking forward taking the next steps getting our regenerative stents ready for clinical trials. With our first product, we aim to treat millions of patients suffering from peripheral artery diseases, and save their limbs from amputation.”

 About STENTiT

STENTiT is a medical device spin-off company from the Dutch Eindhoven University of Technology, focusing on the development of regenerative endovascular implants. These bioresorbable devices trigger a natural healing response by the circulating blood cells, in which the implant is being replaced by new vascular tissue to restore the artery from the inside-out.

Since the establishment of the company, STENTiT has received broad international recognition and awards for its high-potential approach, covering world leading stages. As the company is currently going through the next translational phases, STENTiT is on its way to fulfill its ambition to become the new standard in endovascular treatment, providing a life-changing solution for millions of cardiovascular patients around the world.

More information is available at www.stentit.com

About Nextgen Ventures

Nextgen Ventures is an investment fund investing in knowledge-intensive companies that enable transformation in health care. We actively work with our portfolio companies to develop and market potential breakthrough innovations in health care IT and medical technology that provide meaningful results for people, patients, and professionals.

Please visit Nextgen’s website for more info: www.nextgenventures.nl

About BOM Brabant Ventures

Entrepreneurship is the driver of change. From sustainable food sources to a healthy future, climate-neutral energy, and developing promising key technologies. The Brabant Development Agency (BOM) ensures that startups playing a role in these fields receive the right support and funding to get off to a flying start and grow into scaleups, and that companies that aspire to go global can actually do so. Every year BOM works with dozens of companies to create this impact. BOM is an executive body of the Province of Brabant and the Ministry of Economic Affairs and Climate Policy.

Please visit BOM’s website for more info: www.bom.nl

For further enquiries, please contact: 
STENTiT | Eindhoven, The Netherlands
Dr. Bart Sanders, CEO
T: +31 40 247 2445
E: b.sanders@stentit.com

For media:
LifeSpring Life Sciences Communication | Amsterdam, The Netherlands
Léon Melens
T: +31 6 538 16 427
E: lmelens@lifespring.nl

SOURCE STENTiT

European Innovation Council Accelerator: 51 deep tech start-ups selected to get funding and investments

Written by Tiffany on . Posted in Uncategorized. No Comments on European Innovation Council Accelerator: 51 deep tech start-ups selected to get funding and investments

SUSTAINABILITY – The 51 companies were selected out of 551 full proposals submitted, and will receive a total of €260 million in funding from grants and equity investments.

A new set of 51 companies have been selected to receive European Innovation Council (EIC) funding, combining grants and equity, following the second 2023 EIC Accelerator cut-off in March. The 51 selected companies will receive €260 million of funding from grants and equity investments.

A total of 260 million euros from the EIC fund goes to 51 European deep-tech start-ups.
The Netherlands is awarded the most.

Among the winners also Stentit and Morphotonics, both former winners of an Innovation Origins award.
The companies were selected in a highly competitive process in which 139 were interviewed by juries of experienced investors and entrepreneurs out of 551 full proposals submitted. 

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Stentit

Former Gerard and Anton award winner Stentit is one of the lucky start-ups to receive funding. “The 12.5 million we receive will be used for the first clinical trials with patients at risk of leg amputation and to introduce our regenerative stents to the medical market”, the company says in a statement on Linkedin.


“It’s so rewarding to witness such support by the European Commission and see our proposal being chosen among the more than 500 submissions. This pays off for years of hard work and gives us new energy for the work ahead of us. This recognition is not just for our team, but also the people who have been trusting us all this time and, most importantly, all our patients.”

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