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Series A funding for Hemotune

The ETH Zürich spin-off just reached another milestone and closed a CHF 5.1 million Series A investment, a month after being awarded with a €500,000 investment from the EIT Health Startup Rescue Instrument.

Exciting news from Switzerland! The ETH Zürich spin-off Hemotune successfully closed a CHF 5.1 million Series A funding round to advance the development of HemoSystem, a breakthrough blood purification platform based on nano-engineered magnetic beads. The investment was led by OCCIDENT with participation of the Korean medical device company Greencross Medical Science Corp. (GCMS), and Zürcher Kantonalbank.

The company’s total amount raised since incorporation is now more than CHF 10 million and the latest funds will be used to accelerate the preclinical development of HemoSystem. HemoSystem is a revolutionary medical device for blood purification that combines cutting-edge scientific results from biomedicine and nanotechnology. It allows therapeutic blood purification with much higher efficiency and precision compared to existing methods by mixing nano-engineered magnetic beads directly with patients’ blood in a dialysis-like machine.

The primary applications of the technology are sepsis and septic shock, as a result of which, according to the WHO, up to 6 million people die each year. Since blood poisoning is also one of the complications that can occur as a result of an infection with the coronavirus, HemoSystem could therefore also play an important role in the corona pandemic. 

This is the reason why EIT Health decided to co-invest EUR 500,000 in Hemotune in July 2020, through the Startup Rescue Instrument. Hemotune is 1 of 11 European start-ups that were selected to receive the highly coveted EIT Health funding, as part of the EIT Crisis Response Initiative. The co-investment is intended to speed up our development activities in order to bring Hemotune’s live-saving sepsis therapy to the clinics as soon as possible. Since sepsis is also one of the leading causes of death in COVID-19,  Hemotune will also use the EIT Health funding to adapt Hemotune’s revolutionary blood purification technology to treat COVID-19 patients.

Congratulation to the team and best of luck!