MIT Professor Robert Langer has launched yet another company, this time with the help of $10.8 million in Series A funding. Gecko Biomedical debuted Monday in France, and is working to create a synthetic, biodegradable adhesive that can close wounds inside the body.
"We are proud to see that, through this financing, the innovation born within our laboratories can now be translated into innovative solutions designed to improve patient outcomes and potentially reset the practice of minimally invasive surgery," said Langer in a statement.
Although based in Paris, Gecko was founded by local innovators. Langer, who will serve as the company's scientific advisor, was joined by bioengineer Jeff Karp, co-director of the Center for Regenerative Therapeutics at Brigham and Women’s Hospital. Healthcare entrepreneur Christophe Bancel will act as the company's founding CEO, however, and will be working alongside Jacques Marescaux from the Institute of Research Against Digestive Cancer, located in Strasbourg, France.
Omnes Capital and CM-CIC Capital France co-led Gecko's round, which was also supported by CapDecisif Management. In conjunction with the financing, Alexia Perouse of Omnes Capital and Karine Lignel of CM-CIC Capital will join the company's board of directors.
"Gecko Biomedical is developing solutions that are revolutionary in the field of surgical wound closure," said Perouse in a statement. "We believe that this will set new standards, with key benefits, in particular in minimally invasive settings."
Inspired by nature, Gecko's products include non-toxic, light-activated adhesive liquid films and patches, both of which deliver "on-demand" wound closure during surgical procedures in the presence of body fluids, such as blood. In a world where doctors are still using sutures and staples, Langer said Gecko is impacting "an area of huge importance that has seen minimal innovation in recent years."
The team claims the market for wound closure products is worth roughly $11 billion, and is expected to grow by seven percent annually. With this newfound funding, Gecko will begin to "rapidly pursue" its development plan, from industrialization through regulatory development.
Earlier this year, after receiving the National Medal of Technology and Innovation from President Barack Obama, Langer went on to raise $30 million in financing for technology-based beauty company Living Proof, which he co-owns with Hollywood starlet Jennifer Aniston.
Langer is also co-founder of InVivo Therapeutics Corporation, a company developing technologies to treat spinal cord injuries, and has helped develop a gel that's saved the money-making voices of Adele, Julia Andrews and Steven Tyler.
Featured Image via Ed Quinn/MIT Spectrum
