- Evonik invested in Vivasure Medical through its Venture Capital activities.
- The financing round included Life Science Partners Health Economics Fund and Panakes Fund.
- Vivasure's Closure Device uses Evonik's bioabsorbable polymer, RESOMER®.
- The device is designed for minimally invasive procedures, improving patient recovery.
Investment Overview
Evonik has invested in Vivasure Medical Limited, a medical device company based in Galway, Ireland. The financing round was led by Life Science Partners Health Economics Fund from the Netherlands, with participation from Panakes Fund in Milan, Italy, and previous investors such as Fountain Partners, Orchestra Medical Ventures, and Ascent Biomedical Ventures.
Strategic Fit
Bernhard Mohr, Head of Venture Capital at Evonik, highlighted that health and medical technology are key growth areas for the company. Vivasure Medical's technology aligns with Evonik's existing product portfolio and technological expertise. The Vivasure Closure Device, part of the PerQseal™ technology platform, is the first fully bioabsorbable, sutureless, and synthetic option for closing large-bore arteriotomies from percutaneous transcatheter procedures.
Technological Collaboration
Gerard Brett, CEO and co-founder of Vivasure Medical, expressed satisfaction with Evonik as a strategic partner, particularly due to their expertise in polymers for pharmaceutical and medical device applications. The Vivasure Closure Device aims to improve clinical outcomes, reduce recovery times, and offer better therapeutic results compared to open surgery.
Material Utilization
Vivasure Medical utilizes RESOMER®, a bioabsorbable polymer from Evonik, which has proven its value in various commercial applications. Jean-Luc Herbeaux, Head of Evonik’s Health Care Business Line, noted that this partnership opens new and exciting applications for RESOMER®.
