Comphya raises CHF 1.3M for clinical trials execution
01.12.2020
Comphya, the developer of the first neuromodulator to treat erectile dysfunction, secures their bridge financing round including investment from existing shareholders and the Fondation pour l'Innovation Technologique (FIT) Growth Loan.
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Comphya is a medical device company that develops a novel implantable device to restore erectile function in patients non-responsive to oral drugs (e.g., Viagra), particularly spinal cord injury and post-prostatectomy patients. Today, these patients resort to intrapenial injections or penile implants, which are the only available yet painful, problematic, and outdated therapies. Comphya’s patented solution is based on neuroprosthetic principles and offers a unique and superior treatment for erectile dysfunction. The system stimulates the cavernosal nerve (pro-erectile nerve) via external wireless controllers, to restore natural penile erection. The goal is to offer physiological sexual function and quality of life to large parts of the male population in great need.
The closing amount CHF 1’245’000 comprises Convertable Loans from Comphya shareholders (CHF 745 ’000) and the Fondation pour l'Innovation Technologique (FIT) Growth Loan (CHF 500’000). The capital will be used to execute the pilot clinical trials which are an essential cornerstone for Comphya t close the go-to-market process.
Comphya has been supported by Venture Kick, Venture Leaders and listed as a TOP100 startup.
We enjoyed this occasion to interview Rodrigo Fraga-Silva, CEO of Comphya about his entrepreneurial path and the role of Venturelab and Venture Kick in his startup development.
Rodrigo, can you tell us a bit more about how will this investment help achieve your vision?
The Bridge Financing secures the complete execution of a key milestone and a major value-adding steps, the pilot clinical trials, planned to start Q2.2021. The pilot trials will assess the safety and preliminary efficacy of CaverSTIM in spinal cord injury and prostatectomy patients, providing the ultimate clinical proof for our development, and paving the way to the final goal of benefit ED patients.
When, and what, was your inspiration to found Comphya?
The basic research I was working on brought the fundaments, but it was the innovative EPFL environment, particularly the influence and great example of my partner and Comphya co-founder, Prof. Nikos Stergiopulos, that inspired me.
You won Venture Kick in 2017. How did it help you lay the foundation for your growth and today's achievement?
Venture Kick was a fundamental help for me to transit from the academy to business. The program not only provided initial financing support to start shaping the business but gave essential training and orientation.
You also participated in Venture Leaders Life Science in 2017 and were selected among the TOP 100 Swiss startups in 2018. How did it leverage your fundraising strategy?
The programs were an excellent validation and best vitrine to expose Comphya to investors. Indeed, Comphya closed the first equity financing round, the Seed Investment Round of 3Mio, after that.
What is your advice for the potential Medtech entrepreneurs launching companies in Switzerland today?
There are two points that are very important in my opinion. First is the formation of a great team. It is essential to get together with people that you can count on, that have complementary skills, and motivated as you are. Second, it to stay focus on your next milestones. The long-term plans are indispensable; however, you move forward step by step, therefore, high focus on the next milestone.
The closing amount CHF 1’245’000 comprises Convertable Loans from Comphya shareholders (CHF 745 ’000) and the Fondation pour l'Innovation Technologique (FIT) Growth Loan (CHF 500’000). The capital will be used to execute the pilot clinical trials which are an essential cornerstone for Comphya t close the go-to-market process.
Comphya has been supported by Venture Kick, Venture Leaders and listed as a TOP100 startup.
We enjoyed this occasion to interview Rodrigo Fraga-Silva, CEO of Comphya about his entrepreneurial path and the role of Venturelab and Venture Kick in his startup development.Rodrigo, can you tell us a bit more about how will this investment help achieve your vision?
The Bridge Financing secures the complete execution of a key milestone and a major value-adding steps, the pilot clinical trials, planned to start Q2.2021. The pilot trials will assess the safety and preliminary efficacy of CaverSTIM in spinal cord injury and prostatectomy patients, providing the ultimate clinical proof for our development, and paving the way to the final goal of benefit ED patients.
When, and what, was your inspiration to found Comphya?
The basic research I was working on brought the fundaments, but it was the innovative EPFL environment, particularly the influence and great example of my partner and Comphya co-founder, Prof. Nikos Stergiopulos, that inspired me.
You won Venture Kick in 2017. How did it help you lay the foundation for your growth and today's achievement?
Venture Kick was a fundamental help for me to transit from the academy to business. The program not only provided initial financing support to start shaping the business but gave essential training and orientation.
You also participated in Venture Leaders Life Science in 2017 and were selected among the TOP 100 Swiss startups in 2018. How did it leverage your fundraising strategy?
The programs were an excellent validation and best vitrine to expose Comphya to investors. Indeed, Comphya closed the first equity financing round, the Seed Investment Round of 3Mio, after that.
What is your advice for the potential Medtech entrepreneurs launching companies in Switzerland today?
There are two points that are very important in my opinion. First is the formation of a great team. It is essential to get together with people that you can count on, that have complementary skills, and motivated as you are. Second, it to stay focus on your next milestones. The long-term plans are indispensable; however, you move forward step by step, therefore, high focus on the next milestone.