Novosanis closes third round of seed funding

Novosanis announced today it has closed a new round of financing. The share capital was increased by a combined effort from current investor Taste Invest and from the Novosanis management team. This new round brings the Flemish medical device company to a total in equity of 2M Eur.

“While healthcare costs are increasing worldwide the need for medical devices that bring more accuracy and enable early detection offer a significant benefit to patients outcome while bringing efficiency in diagnostics and therefore healthcare spending.” says Philip De Mulder, CEO Taste Invest NV.

Koen Beyers, CTO Novosanis, says “As a young start-up, Novosanis made significant progress and achieved major milestones since its foundation early 2013. The multidisciplinary team has now grown to 11 people. The previous rounds of seed funding combined with 3 innovation grants from VLAIO, an H2020 and INTERREG grant for Colli-Pee™ and VAX-ID™ device platforms have led to CE-IVD and FDA listing of the Colli-Pee™ device next to a recently finalized successful Phase 1 clinical trial with VAX-ID™ using Hepatitis B vaccine. ”

“Commercial sales of the Colli-Pee™ device is ramping up. The new funding round in combination with bank loans will enable further expansion and upscaling of Novosanis’ Colli-Pee device next to development and commercialization of the VAX-ID™ device platform. VAX-ID™ is suited for accurate drug delivery in the dermal layer of the skin and therefore offers new and unseen opportunities for healthcare organizations and pharmaceutical companies.” explains Vanessa Vankerckhoven, CEO Novosanis.

About Novosanis

Novosanis is an innovative developer and producer of medical devices adding value to the accuracy of diagnostics tests as well as drug delivery in the field of prevention, detection and treatment of infectious diseases and oncology.

Novosanis is a Belgian company endorsed on multiple occasions nationally and internationally for its solutions and is ISO13485 certified.

Novosanis prospers in user-friendly and clever medical devices meeting all regulatory and quality requirements for self-sampling and drug delivery solutions that improve accuracy and standardization while making handling easier, more consistent and more comfortable for the user.

Novosanis has two device platforms in portfolio:

VAX-ID™,is a patented and proven platform of injection devices suited for accurate drug delivery of e.g. therapeutic, prophylactic and allergy vaccines in the dermal layer of the skin.

Colli-Pee™,is a patented sampling device suited for standardized and guaranteed collection of first-void urine (first 20ml of the urine flow) allowing improved detection of infectious diseases as well as early stage cancer, including human papilloma virus able to cause cervical cancer and cancer biomarkers for early detection of e.g. prostate cancer. Colli-Pee™ is in a commercial stage. It is CE-marked and FDA listed.


Source: Novosanis