Aortyx obtains a 650,000€ capital increase

Aortyx Team
  • Supported by IQS Tech Factory, the company stands out for developing its activity without any crowdfunding.
  • The IQS spin-off has developed a minimally invasive endovascular device to reduce the mortality rate in aortic dissections.

Aortyx, spin-off from IQS specialized in the creation of endovascular devices for aortic dissections, has started the year 2020 with a 650,000€ seed capital increase. Genesis Ventures is the lead investor among the 71 that Aortyx currently has. “Achieving a 650,000€ capital increase is a recognition of the confidence placed by our investors in the work we are doing at Aortyx and in our project, destined to save lives. This investment will allow us to continue fulfilling the planned timings and maintain our objective of launching the best possible product to the market”, said Dr. Jordi Martorell, CEO and co-founder of Aortyx.

With the funding obtained, the company has already started testing on animals and will begin the industrialization of its product with the objective of reaching the market in 2024. The company is currently in its first preclinical phase, while designing the regulatory strategy simultaneously. In addition, Aortyx has already begun the process of industrialization of the prototype with the support of international manufacturers that have the ISO13485 quality seal. All the company’s quality procedures are also being implemented with the help of TDV.

Previously, Aortyx had already been recognized and funded by national and European public institutions. In 2019, the company a 550,000€ grant from the 2020 Program of the European Union, the Headstart program of the European Institute of Innovation and Technology (EIT Health), the Neotec program of the Center for Industrial Technological Development (CDTI), the Doctorat Industrial program of Generalitat de Catalunya and a loan from Enisa.

The endovascular solution to reduce the current high mortality rate Aortyx seeks to solve aortic dissections, a tear of the inner layer on the wall of the aortic artery. This disease has a 50% mortality rate. Current solutions -an open-heart operation or an endovascular repairhave high risks for the patient in the short, medium and long term. The IQS spin-off is developing a minimally invasive, viscoelastic, adhesive and resorbable endovascular device. The device will contribute to the regeneration of the affected area, which will increase the success rate of the surgery and decrease the hospitalization time.

A project with the support of IQS Tech Factory

The Aortyx project is supported by IQS Tech Factory, the IQS entrepreneurship center and the first industrial startup accelerator in Spain. In fact, three of its four founding members are IQS researchers: Dr. Jordi Martorell (Head of the Group of Vascular Engineering and Applied Biomedicine), Noemí Balà (specialist in Materials Science) and Dr. Salvador Borrós (Head of Bioengineering and Materials Engineering Group). The fourth founder is Dr. Vicenç Riambau (Head of Vascular Surgery at Hospital Clínic in Barcelona).

“As an IQS spin-off, Aortyx is another example of the good work done at IQS Tech Factory, where we support good ideas with a prototype to give them its final boost so they can reach the industrialization phase”, said Oriol Pascual, Director of IQS Tech Factory.