Hub Catalyst-based medical technology company Xeltis has secured European funding of 15 million euros. Xeltis is pioneering a natural recovery-based approach to replacing heart valves and blood vessels, the company said in a press release about the capital injection. This approach should overcome the limitations of existing artificial solutions. The process developed by Xeltis called Endogenous Tissue Restoration (ETR) uses the patient's natural healing process to repair heart valves and blood vessels with the patient's own tissue.
Funding from the European Investment Bank (EIB) will be used to accelerate clinical programs for three of Xeltis' medical devices. The funding is being made available under the European Guarantee Fund, a joint initiative of the EIB Group and EU member states to help European companies grow out of the current crisis.
Science Fiction
"What Xeltis is doing in the field of medical technology innovation sounds almost like science fiction. And yet it already exists," said EIB Vice President Kris Peeters. "I think Europe should be proud to be a breeding ground for this kind of breakthrough technology, which has the potential to significantly impact medical care in a number of areas.
Eliane Schutte, CEO of Xeltis, added: "With the EIB's financial support, our 'self-healing' heart valves and blood vessels may reach patients sooner for whom there are currently limited or no treatment options at all. Xeltis has the most advanced platform for natural recovery-based technology in cardiovascular medicine and has the potential to positively impact millions of lives."
