Nanordica Medical raises €1.6 million to launch its antibacterial wound dressing
TALLINN - Estonian MedTech company Nanordica Medical has raised €1.6 million to see the commercialisation of its wound dressing product for the fast healing of chronic wounds.
The round was led by Estonian fund 2C Ventures with participation from existing investors, Specialist VC, Superangel, Amalfi, Health Founders syndicate led by Erki Mölder and EstBAN syndicate led by Heidi Kakko and Martin Goroško.
Nanordica Medical’s wound dressing contains Premotiv nanotechnology which it says prevents infection while promoting wound healing at the same time solving the issue of antimicrobial resistance. It is suitable for both infected wounds and wounds at risk of infection.
It claims, in a published study, its dressing has demonstrated a 43% reduction in wound area size after just one week of treatment compared to 13% with standard silver dressings in a randomised controlled trial on 30 patients with diabetic foot ulcers.
Why do we need such treatments? Here are some rather alarming facts and figures around wound care: around 100 million people worldwide have chronic wounds that fail to heal. More than half of these wounds become infected, often leading to severe complications such as sepsis, amputation and death. Diabetic foot ulcers (DFUs) are the leading cause of infections and leg amputations among chronic wounds. Every 20 seconds, someone with diabetes loses a leg due to amputation.
“We backed the team because they had both the science and the conviction to see this through”, says Martin Koppel, the Founder Partner of 2C Ventures.
Nanordica Medical is currently conducting a multicentered, double-blind, randomised clinical trial of over 120 patients with diabetic foot ulcers.
“This financing round will enable us to complete a large randomised clinical study, strengthening the economic case for Premotiv and finalise CE marking for commercial launch in Europe. Our clinical data suggest that Premotiv helps wounds heal faster by managing infection without compromising natural healing process. Faster healing has the potential to reduce complications, lower treatment costs and improve outcomes for patients with chronic wounds”, said Olesja Bondarenko, CEO and co-founder of Nanordica Medical.
