Spartha Medical Receives €2.4M in Financing from European Innovation Council
Spartha Medical, a French medtech company specialized in developing multifunctional antimicrobial, antiviral and anti-inflammatory coatings, today announces it has received €2.4M ($2.75M) in grants and an additional undisclosed equity financing from the European Innovation Council (EIC) Fund. Spartha Medical is among the 99 innovative European companies that the EIC Accelerator program selected at the end of 2021 to receive a grant. This is one of the most competitive European programs, with a 6% selection rate in 2021.
Spartha Medical’s innovative coatings for medical devices offer antimicrobial, antiviral and anti-inflammatory capabilities – including against SARS-CoV-2 (Covid-19) – making them highly versatile and practical for use in many surgical and patient care applications. In addition, Spartha Medical’s innovation is a unique non-antibiotic-based solution, derived from natural biopolymers that make it biocompatible and applicable to all surface types. The antibacterial effect occurs by contact on the polymer coated surfaces. With this key feature, the coating can be used on medical devices without affecting their primary function or can act as a physical antibacterial/antiviral barrier, which makes it easier to enable application on implants for at-risk patients. The company also offers a customised coating development service that optimises specific formulations to the needs of the client’s product.
“Spartha Medical is thrilled to have the support of the EIC fund, which we will use to launch clinical trials, strengthen our infrastructure and hire new talent,” said Dr Nihal Engin Vrana, CEO of Spartha Medical. “We are set to achieve the necessary regulatory compliance steps, including ISO certification, as well as start researching the next-generation of coatings. These will propel us to the forefront in preventing post-operative infections and in fighting against resistant bacteria. By consolidating our current co-development programs and partnerships and the development of new business opportunities, our aim is to become the market leader in customized coating development services, using a platform supported by Artificial Intelligence.”
The company is currently preparing a clinical trial to evaluate its medical coating kit, which has antimicrobial properties with dedicated instrumentation, to be used in surgeries and other patient care settings. Spartha Medical is also working on a consumer product with antimicrobial and antiviral properties, designed for daily use in personal and surface hygiene.
“The inspiration behind Spartha Medical resides in Greek mythology, where a mere 300 Spartans held off an army of 70,000. Similarly, we aim to help protect and arm the public with humane and environmentally-friendly formulations to fight all forms of infection,” he added.
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