Spartha Medical receives €2.4M in financing from European Innovation Council
- Start-up will use funds to initiate clinical evaluation of its multifunctional coating solutions, shown to inactivate resistant bacteria and viruses, including SARS-CoV-2
- Financial award marks important step in company’s growth towards becoming a global player in customized coating designs and developments against resistant bacteria
Strasbourg, France, January 25, 2022 – 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.
About the technology
The patented coatings are made of natural polymers; these natural materials are formed during the life cycle of green plants, animals or bacteria. The coatings can be personalized for any complex surface or geometry. Using them on implants limits the risk of serious complications. There is no bacterial resistance development, unlike antibiotics. They can be placed on an implant, then sterilized, packaged and stored for several years. Compatible with sterilization by steam, gamma, EtO or electron beam; they have shown efficacy against a wide range of bacteria (Gram+ and Gram-) and against Methicillin-Resistant Staphylococcus Aureus (MRSA). The antimicrobial activity around implants has been demonstrated in vivo, together with an anti-inflammatory action.
Notes to editors:
- 5% of patients admitted to healthcare institutions contract a nosocomial infection. This can lead to dramatic situations, causing the death of approximately 37,000 people per year in Europe
- According to the WHO, annually, approximately 33,000 people die in Europe as a result of an infection with drug-resistant bacteria
- Also, according to the WHO, antibiotic resistance leads to higher medical costs, prolonged hospital stays for patients and increased mortality
- One report estimates that by 2050, annually, ten million people will die due to AntiMicrobial Resistance (AMR) unless a global response to the problem is mounted
- The medical coatings industry is expected to grow from $6 billion (€5.2bn) in 2020 to $15.2 billion (€13.3bn) by 2025, at a CAGR of 20.5%
About the EIC Accelerator
The EIC Accelerator provides funding and investments through the EIC Fund for individual Small and Medium Enterprises (SME’s), in particular start-ups and spinout companies, to develop and scale-up game-changing innovations. It is amongst the most selective accelerator schemes in Europe (with a 6% selection rate), the EIC Accelerator provides financial support with grant funding (non-dilutive) of up to €2.5M ($2.9M) for innovation development costs. Additionally, EIC selected companies receive coaching, mentoring and access to investors and corporations.
About the EIC Fund
The EIC Fund provides equity to breakthrough innovation companies that are selected for EIC Accelerator blended finance support. The EIC Fund is a unique entity; run by the European Commission and established to make direct equity investments in companies. The EIC Fund provides patient capital in the form of equity or quasi-equity (which may also be blended with a grant component), to SME’s and start-ups – selected through the highly competitive and rigorous EIC Accelerator.
About Spartha Medical
Spartha Medical is a medtech company at the preclinical stage, resulting from the work of the National Institute of Health and Medical Research (INSERM) UMR1121, which develops coatings based on natural biopolymers with antimicrobial, antiviral and anti-inflammatory properties. Currently at the commercial phase, Spartha has signed several feasibility and co-development contracts with national and multinational companies.
Spartha Medical’s ambition is to protect medical devices and all types of surfaces from the risk of infection, by offering multifunctional and easy-to-apply coating solutions. The company is the winner of several awards (i-Lab 2019, Bourse French Tech Emergence, Fond’Action Alsace) and is a participant in several international development programmes (NETVA, Innouvo, EIC InvestHorizon Accelerator).
Founded in 2019 and based in Strasbourg (France), Spartha Medical is a member of BioValley France, incubated within SEMIA, and was part of a maturation project supported by SATT Conectus. It raised €1.4M ($1.6M) in October 2021 in a first round of funding with Alsace Business Angels, Yeast, WiSEED and Bpifrance.