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Novosanis closes third round of seed funding

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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 2 million euros.

“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-PeeTM and VAX-IDTM device platforms have led to CE-IVD and FDA listing of the Colli-PeeTM device next to a recently finalized successful Phase 1 clinical trial with VAX-IDTM using Hepatitis B vaccine. ”

“Commercial sales of the Colli-PeeTM 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-IDTM 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.

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