Gecko Biomedical said today that it raised a $25 million Series A2 round for the next-generation medical polymer it’s developing.
Paris-based Gecko said the €22.5 million round was led by Sofinnova Partners (now its largest stakeholder) and new investor Bpifrance. Prior backers Omnes Capital, CM-CIC Innovation and CapDecisif Management also participated.
Founded in 2013, Gecko said it’s working on a high-viscosity, hydrophobic, fast-curing polymer called GB-02 for cardiovascular reconstruction. When cured, the polymer is designed to form an elastic, biodegradable film. Co-founded by famed MIT hydrogels pioneer Bob Langer and Dr. Jeff Karp of Boston’s Brigham & Women’s Hospital, along with CEO Christophe Bancel and Bernard Gilly of the iBionext Network), Gecko said it plans to use the proceeds to push the development of GB-01 and to investigate guided tissue repair and localized drug delivery.
“Our investors’ support will enable us to complete our international clinical plans in cardiovascular surgery, which, if positive, will allow us to seek our first regulatory approval within 1 year. In addition, the funds will be used to expand our GB-02 platform to additional applications in tissue reconstruction. We will also drive the development of our next-generation polymer GB-04, for sutureless closure,” Bancel said in prepared remarks.
Sofinnova’s Antoine Papiernik at Partners and Bpifrance’s Chahra Louafi joined the Gecko board as part of the funding round, the company said.
“We are thrilled to be involved with Gecko Biomedical, a company which combines all the key features we are looking for when investing in a company: a very strong management team and a world-class platform technology with a multitude of possible paradigm-shifting applications,” Papiernik said.
(€1 = $1.13125)