BIOMODEX, a startup based in Boston and Paris, is a medical technology company that helps surgeons prepare for procedures with 3D printed anatomical models. The company’s innovative approach to what is becoming a more and more common need in the medical world has gotten it off to a good start, and this week BIOMODEX announced that it has concluded a $15 million round of financing led by Idinvest Partners. Other participants were InnovAllianz and longstanding shareholders LBO France and Inserm Transfert Initiative.
“The first $ 3.6M fundraising in 2016 allowed us to develop EVIAS, a unique product in the field of interventional neuroradiology, aimed at reducing operational risks during the treatment of intracranial aneurysms,” said BIOMODEX President Thomas Marchand. “The reliance once again placed on historical investors (LBO France and Inserm Transfert Initiative) as well as InnovAlllianz and Idinvest Partners, which led the way, gives us the opportunity to develop new products in interventional cardiology and strengthen our position in United States with a local production unit..”
3D printed anatomical models have been shown over and over again to result in more precise surgeries, reduced time on the operating table, reduced exposure to X-rays and better clinical results overall.
“We were immediately impressed by the exceptional capacity for innovation and execution of the BIOMODEX team. This new fundraising will open up new prospects for BIOMODEX products and access to new growth markets,” said Luc Maruenda, Partner at Idinvest.
The other investors were equally as impressed.
“We are proud to support BIOMODEX in the development of a completely innovative solution to improve efficiency and individualize the preparation of complex surgical operations,” said Julien Martinez, Director of Strategy, Mergers and Acquisitions and Innovation at Allianz France. “As an insurer, we believe that the value BIOMODEX brings will ultimately bring a new paradigm between insureds, surgeons and hospitals, the Medtech industry and insurance companies. This investment reflects the societal commitment of Allianz France and contributes to the dynamics of innovation and development of the real economy in France.”
“Since our initial investment in 2016, BIOMODEX has come a long way, both in the development of its INVIVOTECH technology and in understanding the ecosystem of surgeons, Medtech manufacturers and health payers,” added Valery Huot, Partner – Head of Venture at LBO France.
In other funding news, INTAMSYS, the maker of high-performance 3D printing solutions, has completed its Series A funding. The fundraising was led by CWB Capital, with participation from Brizan Investments. The investment will help the company to accelerate the deployment of its 3D printing solutions, which focus on high-performance, functional materials, and boost its research and development initiatives.
“The new funding round will enable us to strengthen our support for application-driven innovation of our customers through enhancing mass customization 3D printing capabilities and enabling the creation and integration of digital supply chains,” said Charles Han, CEO of INTAMSYS.
INTAMSYS is known for the FUNMAT PRO and FUNMAT PRO HT 3D printers. This month, the company added PEKK to its portfolio of materials, bringing the total to six high-performance materials: PEEK, PEKK, ULTEM 9085, ULTEM 1010, PPSU and PSU. All in all, users of INTAMSYS 3D printers can print with more than 20 functional materials.
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