€750 000 to EIT Health company Resitu Medical
The medical technology company Resitu Medical AB, working with an innovative solution for tumor biopsies, announced today that Almi Invest, Stockholm Business Angels (STOAF) and private investors have invested €750 000 in the company. The investment will be used to initiate a development project aiming for CE marking in 2023. An additional SEK 20 million will be raised through equity.
Resitu Medical was formed in December 2019 as part of the plastic surgeon Per Hedén’s development company for innovations. In February last year, Resitu received €50,000 in funding from the European innovation network EIT Health’s Headstart program, which helps early startups to develop new products and services and shorten time to market. With this financing, Resitu has been able to carry out market analyses, prototype tests and an investigation of the electrical components of the device. They have also developed relationships with breast cancer clinics and made agreements with suitable subcontractors for manufacturing.
-The support from EIT Health has been crucial in reaching where we are today and being able to attract the first investors, says Stefan Sowa, CEO at Resitu Medical. The initial capital injection we have received now gives us the opportunity to work further with our development towards launching a CE-marked product into the market.
-We provide financial support to early-stage start-ups aiming to facilitate further investments, it is therefore very positive that Resitu Medical has taken in additional financing and has reached a new milestone, says Erik Forsberg, CEO, EIT Health Scandinavia. For the patient, Resitu’s solution will save time and reduce suffering and anxiety and thus save time and money for the healthcare system, which will mean great health economic benefits for society. Reduced sick leave also means substantial socioeconomic savings, all of which are important factors when we evaluate start-ups.
Resitu’s product has the potential to radically change the diagnosis and treatment of breast cancer. The trend in breast cancer care is towards an increasingly personalised care using non-invasive methods, where we strive to remove as little as possible of the breast. For this to be safe, it is necessary to be able to make an accurate assessment of the tumor’s biology with a safety margin that guarantees that the entire tumor has been removed. Resitu’s technology will enable tissue biopsies of up to 3 cm to be taken, so that the tumor can be removed in its entirety with safe margins.
-Surgery to remove a 15 mm tumor takes between 45 minutes and 2 hours and the patient will be able to go home after 8-10 hours. A biopsy with Resitu’s technology can be completed in 15-20 minutes and the patient can leave the clinic after just 2 hours after analysing the tissue, says Andreas Karakatsanis, breast surgeon, Akademiska Sjukhuset, Uppsala
With the Resitu solution, many women with suspected breast cancer will be able to skip an entire step in breast cancer treatment and move the entire management from the surgery department to the radiology and thus both save time and reduce suffering, reducing patient suffering and saving time.
About EIT Health
EIT Health is a vast, vibrant community of world leading health innovators backed by the European Union. Working across borders, our network connects approximately 150 world-class partner organisations, as well as entrepreneurs, start-ups and SMEs from the worlds of business, research, education and healthcare delivery. Our ambition is to enable people in Europe to live longer, healthier lives by transforming businesses and delivering new products and services that can progress healthcare in Europe and strengthen our economy.
Resitu Medical AB
Resitu Medical AB is a Swedish Medical Device company founded in December 2019. The company develops instruments enabling safe removal of intact lesions by a revolutionary technology. The solution will create a paradigm shift in the management of breast cancer diagnosis and treatment. The portfolio of instruments will speed up the process of cancer management using a minimally invasive approach and facilitating the way radiologists and surgeons work.