HYPREVENTION Raised € 750,000 to Finance the Y-STRUT® Product Launch, a Unique Medical Device to Prevent Hip Fracture.
16.12.2015 17:33 | Business Wire
After obtaining the CE marking for the medical device Y-STRUT ® in August 2015, HYPREVENTION recorded its first sales in France and signed its first distribution agreement in Belgium. To continue its business development in Europe and in many emerging countries. HYPREVENTION raised € 750,000 end of 2015. Investors comprised Expanso CAPITAL, a subsidiary of the Caisse d'Epargne Aquitaine Poitou Charente, as well as the Be Angels, Business Angels Switzerland and Cercle des Investisseurs de Genève.
The implant Y-STRUT®, developed by HYPREVENTION, aims at preserving the autonomy and quality of life of the patients who are at risk of hip fracture. Hip fracture is a major public health problem which frequently causes dependency and associated expenses.
Y-STRUT® is used in two clinical indications. In trauma, for the biomechanical reinforcement of the proximal femur in patients having incurred a low energy trochanteric fracture on the other side, and in oncology, for percutaneous internal reinforcement of impending pathological fractures of the proximal femur.
HYPREVENTION was created in 2010 by Cécile Vienney (CEO) and 3 orthopaedic surgeons. HYPREVENTION is a French company that develops, manufactures and markets innovative implantable medical devices to address major public health issues. HYPREVENTION was supported in its early development by the French public actors such as BPI France and the Regional Council of Aquitaine.
Thanks to the recent fund raising, HYPREVENTION can now further develop its sales team and implement the opportunities it identified in Europe, South America and the Middle East. HYPREVENTION can now not only pursue its scientific agenda through clinical trials focused on patient’s benefit, but also the planned health economy studies necessary to support the hip fracture prevention approach as a goal to avoid health costs.
About Expanso CAPITAL:
Expanso CAPITAL is the capital investment subsidiary close to the Caisse d'Epargne Aquitaine Poitou-Charentes, dedicated exclusively to assist corporate clients of the bank, regardless of their activities and their maturity stage, and this with "tickets " of € 50,000 to € 300,000.
About the Caisse d'Epargne Aquitaine Poitou Charentes:
Caisse d'Epargne Aquitaine Poitou Charente is a cooperative regional bank owned by its 334,300 member clients with which it shares its democratic values, territorial roots and solidarity. Covering the 9 departments of Aquitaine and Poitou-Charentes regions, CEAPC enjoys optimum territorial coverage with 3 administrative sites, 10 business centres, sales offices and 376 e-agency’s. Its 2800 employees are serving 2 million customers, individuals, professionals, companies and regional market makers. A committed bank, CEAPC is developing an ambitious CSR policy based on strong convictions and relevant actions around the following themes: customer relationships, human resources, environment, governance, regional social and economic life.
About Be Angels:
Be Angels is the active business angel network in the Walloon Region and the Brussels-Capital Region. With 15 years of experience, the network organizes a monthly event in which four companies seeking financing, usually in start-up phase, present their project to its member investors. Business angels are willing not only to invest, but also to support project promoters in accordance with their needs. Be Angels allows its members to invest according to their wealth, time availability, and investment objectives.
About BAS :
BAS (Business Angels Switzerland), the largest business angels club in the country, showed interest for Hyprevention from the outset. BAS supports start-up companies through capital financing, expertise sharing and know-how, as well as personal contacts and access to its network; it is with this mind-set that its support forHyprevention materialised. BAS members invest their own time and money, and financed more than 80 enterprises within the framework of the club.
Cecile Vienney, +33 (0)5 57 10 28 52
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