Julier Medical Raises €3 Million in Seed Financing from Sofinnova Partners to Treat Patients with Acute Ischemic Stroke
The funds will support the development of Julier's thrombectomy solution for faster removal of blood clots and post-stroke revascularization all the way to first-in-human
PARIS, FRANCE / ACCESSWIRE / January 23, 2023 / Julier Medical ("Julier"), a Paris-based medical device company developing an innovative solution for the removal of blood clots and post-stroke revascularization, today announced a successful €3 million seed financing from Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London and Milan. The funds will support the development of Julier's mechanical thrombectomy device to treat patients with Acute Ischemic Stroke (AIS) until its first clinical study. This is the fifth investment by Sofinnova's medtech acceleration fund, Sofinnova MD Start III.
Marion Gasperment, Julier's Chief Executive Officer and an Associate at Sofinnova Partners, said, "Julier's innovative technology has the potential to be a true game-changer in the treatment of AIS. Its ingeniously designed thin and flexible structure allows for easy navigation through the brain's vessels, which are tortuous and very difficult to navigate, and can be expanded and collapsed at will for more effective clot removal through larger aspiration diameters."
Mano Iyer, Board Director at Julier and a Venture Partner at Sofinnova Partners, said, "We are excited to have the opportunity to develop Julier's novel technology, which could transform the standard of care for AIS patients. With this funding, we have the potential to not only reduce mortality and severe disability, but also expand the market with a more versatile device than what is currently available."
Julier was founded in 2018 by Laurent Grandidier and Niall Behan, medtech executives and serial entrepreneurs. Stroke is the leading cause of neurological disability and the second leading cause of death worldwide.1 Today, less than a third of patients who experience a stroke are able to walk again.2 Brain vessel occlusions must be removed quickly to enable rapid revascularization that preserves brain tissue. In many cases, current thrombectomy devices require physicians to make multiple attempts and/or try different devices to remove clots, which substantially increases the time to reperfusion and therefore likelihood of severe neurological consequences.
"We are excited to finally bring our vision to reality together with Sofinnova Partners and their medtech acceleration fund, Sofinnova MD Start III. Our device has the potential to not only enable a much faster procedure but also reduce the number of complications that occur with current thrombectomy devices, " said Mr. Grandidier.
"From the onset of the project, Julier's objective was to accelerate and simplify thrombectomy procedures, because ‘Time is brain' for patients," said Mr. Behan. "We have been working towards this moment for several years and as a founder, it is rewarding to see our project reach this stage of development where we are able to secure funding and move closer to bringing our solution to patients in need."
Notes to editors
About Julier Medical
Julier Medical SAS is a Paris-based, privately-held, pre-clinical medical device company and part of Sofinnova MD Start, the venture capital firm's medical device accelerator. The company is developing a next generation mechanical thrombectomy solution for the removal of clots and revascularization of patients experiencing Acute Ischemic Strokes. The core technology is derived from the work of two serial medtech entrepreneurs, Laurent Grandidier and Niall Behan.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.
Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: www.sofinnovapartners.com.
For further information:
Chief Executive Officer, Julier Medical
(1) Collaborators GLRoS, Feigin VL, Nguyen G, et al. Global, Regional, and Country-Specific
Lifetime Risks of Stroke, 1990 and 2016. N Engl J Med. 2018;379(25):2429-2437.
(2) The Society of Vascular and Interventional Neurology. Mechanical Thrombectomy for Acute Stroke - Building Stroke Thrombectomy Systems Of Care In Your Region: Why & How? Mission Thrombectomy 2020+ Global Executive Committee; 2020 Oct p. 1-79. (Mission Thrombectomy 2020+).
SOURCE: Sofinnova Partners
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