Gecko Biomedical announces closing of Series A financing round

Dec 9 2013

Syndicate includes Omnes Capital, CM-CIC Capital Finance and CapDecisif Management

Gecko Biomedical, a privately owned medical device company based in Paris that is developing novel biodegradable surgical wound closure solutions, announced the closing of a €8 million ($11m) Series A financing round. The financing was co-led by Omnes Capital and CM-CIC Capital Finance, and joined by CapDecisif Management.

Gecko Biomedical develops paradigm-shifting surgical wound closure products that harness revolutionary 'bio-inspired' biodegradable and biocompatible adhesive substances to deliver 'on-demand' wound closure during surgical procedures in the presence of body fluids, such as blood. The Company's products include light-activated adhesive liquid films and patches, both of which improve the safety and efficiency of wound closure inside the body, and are ideally suited for use during minimally invasive (or "keyhole") surgery. The technologies have been successfully assessed in multiple surgical settings in preclinical models, thereby validating the benefits for a wide range of medical applications.

Created in 2013, Gecko's rapid development is based on the close relationships between the founders: Bernard Gilly and his iBionext Network; world-leading scientists Robert Langer from the Massachusetts Institute of Technology (Cambridge, MA, USA) and Jeff Karp from the Brigham and Women's Hospital (Boston, MA, USA), both leading experts in the field of bioengineering and regenerative approaches; as well as with Christophe Bancel, member of the iBionext Network and founding CEO of Gecko Biomedical. Jacques Marescaux from the Institute of Research Against Digestive Cancer (Strasbourg, France), an expert in the use of laparoscopy (keyhole surgery), complements this high-profile team.

"Nature provides us with great inspiration for developing solutions to medical challenges, and wound closure is no exception. This is an area of huge importance that has seen minimal innovation in recent years and where we still use sutures and staples, which have many inherent limitations. Looking to nature, our scientists observed adhesive mechanisms that function in challenging but comparable environments and this enabled them to envision completely new solutions for wound closure," said Robert Langer, co-founder and David H. Koch Institute Professor at MIT. "We are proud to see that, through this financing, the innovation born within our laboratories can now be translated into innovative solutions designed to improve patient outcomes and potentially reset the practice of minimally invasive surgery."

Christophe Bancel, founding Chief Executive Officer of Gecko Biomedical, commented: "We have clearly demonstrated the robustness and effective use of our technology platform in multiple relevant models. We are excited that our innovations address for the first time the three key criteria for a successful wound closure product: they are non-toxic, bind tissues strongly offering a leak-proof seal, and work well within the wet environment in the body, including in the presence of blood. These important features will allow us to rapidly address many current surgical challenges, including minimally invasive surgery, to deliver tremendous value for patients and the healthcare system."

This investment will allow Gecko Biomedical to rapidly pursue its development plan, from industrialization through regulatory development, to obtain the CE mark for its adhesive liquid film for use in vascular reconstruction, as well as advancing its development in minimally invasive settings.

"Gecko Biomedical is developing solutions that are revolutionary in the field of surgical wound closure and we believe that this will set new standards, with key benefits, in particular in minimally invasive settings," says Alexia Perouse, Co-Head Venture Capital & Partner at Omnes Capital.

"We have a strong confidence in both the products and the ability of Gecko's experienced team of founders to rapidly bring its portfolio of products to the market," added Karine Lignel, Director at CM-CIC Capital Innovation.