Xeltis has successfully raised 10.5 million euros as part of a Series D financing round. Existing institutional and private investors took part in this process, as outlined in a press release.
Xeltis manufactures products made from bio-absorbent polymers, formed into a porous matrix. Following implantation, these function as heart valves or other cardiovascular components. During the healing process, cells make their way into the matrix, where new tissue growth is promoted. While natural bodily parts gradually become responsible for full functionality, the polymer matrix undergoes a process of bio-absorption, at the end of which only the body’s own, healthy tissue remains.
CEO Eliane Schutte stated that ongoing preclinical and clinical trials have already delivered promising results. The fresh capital should support the advancement of these studies.
Xeltis was founded in 2006 as a spin-off of the University of Zurich . It subsequently merged with the Dutch company Qts/e and is now headquartered in both Eindhoven and Zurich.
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