Comphya | Raised additional USD 1.3 million
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Additional USD 1.3 million to secure the execution of the pilot clinical trials to start early 2021
One year following the closing of its seed round, Comphya a developer of the first neuromodulator to treat erectile dysfunction, has obtained an additional USD 1.3 million in a bridge financing round. The funds will facilitate the execution of pilot clinical trials, starting early 2021.
Based in Lausanne, Comphya is a medical device company developing a novel implantable device to restore erectile function in patients non-responsive to oral drugs (e.g., Viagra), particularly spinal cord injury and post-prostatectomy patients. Today, these patients resort to intrapenial injections or penile implants, which are the only available yet painful, problematic and outdated therapies. Comphya’s patented medical device, CaverSTIM, is based on neuroprosthetic principles and offers a unique and superior treatment for erectile dysfunction. The system stimulates the cavernosal nerve (pro-erectile nerve) via external wireless controllers, to restore natural penile erection.
The company is planning to aunch pilot clinical trials in 2021 to assess the safety and preliminary efficacy of its device in spinal cord injury and prostatectomy patients. The study will be financed by the USD 1.3 million investment obtained in a bride funding round. The amount comprises Convertible Loans totalling CHF 745’000 from existing shareholders, and the FIT Growth Loan of CHF 500’000. The FIT Growth Loan is a financing initiative supported by the Swiss Canton of Vaud, targeting innovation and technology.
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