TISSIUM Secures €38.75M in Series B Funding to Expand Its Programmable Biomaterials Platform into Neurorepair, Cardiovascular, and Gastroenterology Therapies

On November 21, 2019, VCBeat (WeChat ID: vcbeat) learned via Business Wire that the French life sciences company TISSIUM announced the completion of a €38.75 million Series B financing round. Investors in this round included BNP Paribas Développement, the European Investment Fund (EIF), M&L Investments, ValQuest Partners, Bpifrance, CM-CIC Capital Innovation, CapDecisif Management, Omnes Capital, and Sofinnova Partners.

TISSIUM plans to leverage this funding to apply its biopolymer platform to therapeutic areas such as nerve repair, cardiovascular disease, and gastroenterology, while streamlining its clinical development and regulatory processes. Following the completion of the Series B financing round, Medtech executive Jay Watkins will join TISSIUM’s Board of Directors and serve as Independent Chairman.

To date, TISSIUM has completed six rounds of financing, raising a total of nearly €80 million. Notably, the company closed an €8 million Series A round in December 2013 and secured €6 million in financing in January 2018.

TISSIUM, a private biotechnology company founded in 2013 and headquartered in Paris, France, possesses a unique biopolymer platform designed to meet the needs of surgical procedures. Leveraging this platform, TISSIUM is developing non-toxic, tissue-adherent, and biodegradable sealants and adhesives to facilitate the healing of wounds resulting from minimally invasive surgeries. Since its inception, the company has secured support from leading healthcare investors, including Omnes Capital, CM-CIC Capital Innovation, and CapDecisif Management.

Led by CEO Christophe Bancel, TISSIUM features biopolymers with unique properties that conform to human tissue and integrate with surrounding tissues to facilitate wound healing. Initially, Professor Robert Langer of the Massachusetts Institute of Technology (MIT) and Professor Jeffrey M. Karp of Harvard Medical School developed this class of materials based on their patented technologies to create a family of fully synthetic, programmable biopolymers. These polymers can serve as raw materials for producing wound sealants, adhesives, drug delivery vehicles, and 3D-printed implantable devices.

Building on the research of Professor Robert Langer, TISSIUM also employs modular design for its biopolymers to align with different therapeutic areas. Furthermore, the company has developed delivery and activation devices for these biopolymers to enhance their performance and usability.

Christophe Bancel, CEO of TISSIUM, stated, “This new round of financing demonstrates the strength of TISSIUM. We look forward to rapidly expanding into multiple therapeutic areas in the coming months, extending our products into new clinical directions. We are delighted to welcome Jay to the TISSIUM Board of Directors; he brings extensive experience and specialized expertise in medical technology innovation.”

Jay Watkins added, “I am delighted to join TISSIUM as Chairman. Programmable biopolymers have been widely applied across various therapeutic areas, and I look forward to collaborating with the TISSIUM team to expand our impact in the medical technology sector.”

BNP Paribas Développement, established in 1988, is the venture capital arm of BNP Paribas, primarily focused on the development of small and medium-sized enterprises (SMEs). The firm’s business scope includes mezzanine financing, leveraged buyouts, management buyouts, and recapitalizations. Its investment portfolio spans various sectors, including manufacturing, services, pharmaceuticals, biotechnology, electronics, energy, chemicals, new materials, and information technology.

The European Investment Fund, established in 1994 and headquartered in Luxembourg, is a venture capital and private equity firm owned by the European Union. The institution provides financial support to small and medium-sized enterprises through private banks, with its primary business activities focusing on venture capital investment and loan guarantees.

ValQuest Partners is a venture capital firm founded in 2010 and headquartered in Lebanon.

Bpifrance, established in 2012 and headquartered in Maisons-Alfort, France, is a venture capital and private equity firm. The company primarily focuses on sectors such as artificial intelligence, software development, finance, hardware, and the Internet of Things (IoT).

CM-CIC Capital Innovation, established in 2003 and headquartered in Paris, France, is the venture capital and private equity arm of the Crédit Mutuel-CM11 Group. The company supports growing enterprises and fosters the establishment and development of major economic regions in France.

CapDecisif Management, founded in 2001 and headquartered in Paris, France, is a venture capital firm. The company focuses on early-stage innovative companies with high growth potential, primarily investing in the healthcare, digital health, and technology sectors.

Omnes Capital, established in 1999 and headquartered in Paris, France, is a venture capital and private equity firm. The company primarily invests in the life sciences and infrastructure sectors and manages €3.4 billion in assets.

Sofinnova Partners, established in 1972 and headquartered in Paris, France, is an independent venture capital firm. Over the past nearly 50 years, the company has provided funding to close to 500 enterprises, primarily investing in biopharmaceuticals, biotechnology, medical devices, and industrial production.

(Compiled by Xu Xiaoxue)