GERMANY – High-Tech Gründerfond leads seed round
High-Tech Gründerfond along with business angels and strategic investor Vita 34 AG has led a seed financing round for Urotec GmbH, a tissue engineering company.
The biotechnology company focuses on developing substitutes for the bladder and lower urinary tract from the body’s own tissue, which are less invasive for the patient as well as cheaper for healthcare providers. The financing round will be used to fund the proof of concept in animal testing during 2008 and a pilot study on human patients from February 2009, and also fund regulatory approval for manufacturing the substitute tissue.
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