Strasbourg, France, April 14th, 2009 - ProTip SAS, a company that designs, develops and markets medical prostheses and implants using porous titanium with a special focus on ear, nose and throat applications, announces today that it has completed an A round financing of EUR 1 million. The funds come from new investors including business angels and entrepreneurs from the life science and other sectors. ProTip has raised some EUR 2 million since its inception in 2004, including grants, loans and awards.
The funding will enable ProTip to finish the development of an artificial larynx and bring it to its "first in man" trial. There is a significant clinical need for an artificial larynx as there is no prosthesis available today and thousands of patients worldwide could benefit from this type of medical implant.
"We believe this financing will take us to the completion of the design of this breakthrough prosthesis," said Maurice Bérenger, CEO of ProTip. "The artificial larynx will be the first major milestone in the development of ProTip, we have several other projects in an advanced development stage that will also address widespread unmet clinical needs."
Speaking for the investors, Jean Louis Berchet, an experienced entrepreneur, said: "We are very excited by the prospects for ProTip's artificial larynx and believe the blend of experience and skills present in the company's management team coupled with ProTip's world-class know-how in porous titanium technology will be fully capable of bringing this product and others to market and providing relief for thousands of patients."
Legal advisors were Fidal, Paris.
About ProTip SAS
ProTip SAS designs, develops and markets medical prostheses and implants using porous titanium with a special focus on ear, nose and throat applications. The company has unique, world-class expertise in manufacturing complex form factors based on medical grade titanium microspheres. This means it can produce an infinite number of variants in final form, porosity and even composition. The biomaterial thus obtained enables permanent implantation even in a septic environment. ProTip manufactures the prostheses using an innovative procedure patented by the company, which obviates the need for an expensive mold.
Among ProTip's ear, nose and throat activities, the company is designing an artificial larynx. The results of work conducted by the ProTip team have already validated the biocompatibility and cell colonization of its porous titanium. ProTip has recently brought to market a thyroplasty prosthesis for use in laryngeal surgery, and a phonatory implant is in its final design phase.
ProTip, based in Strasbourg, in Eastern France, was founded in 2004 and has since benefited from strong support from the Alsace region and Oseo, a French government innovation agency. The company has won several prestigious awards in France. It has established partnerships with a number of academic establishments and has recently strengthened its ties with the University Hospitals of Strasbourg and with Inserm. A team of experienced managers is in place with the objective of accelerating company development.
For further information: www.protipmedical.fr (in French)
www.protipmedical.com (summary site in English)