DAMAE Medical, a French medtech company and member of the 2017 Medicen Delegation for our Boston Softlanding Program, announced the closing of a €2 million investment round with Kurma Partners, Idinvest Partners, News Invest, Paris-Saclay Seed Fund co-managed by Partech Ventures, and private investors.
DAMAE Medical was founded in September 2014 to improve skin cancer diagnosis through its technology based on optical tomography. The company’s ambition has already paid off: since its inception, over €1 million has been raised from Bpifrance and other sources. With this initial financial support, DAMAE Medical’s team has demonstrated the technical performances of its main product OCTAV® in a clinical environment.
OCTAV® aims at the instant, non-invasive diagnosis of skin. Its technology is based on a combination of Linear Confocal Microscopy and Optical Coherence Tomography and was patented in 2013. The numerous applications for this technology include the diagnosis, therapy, and followup care for a broad spectrum of skin conditions and pathologies.
This round of investment will serve to finance the development and CE marking of OCTAV®, which is scheduled for mid-2018.
According to Anaïs Barut, CEO and co-founder of DAMAE Medical: “We are delighted to have the support of such a renowned team of investors, and honored to have them on board as we move forward. OCTAV® is indeed a key milestone in our strategy for value creation. Nevertheless, our dynamic and diversely qualified team also has a vision beyond this first product, planning to start working, together with leading industry partners, on additional product candidates in other medical indications.”
As Philippe Peltier, Partner at Kurma Partners, explains: “We are happy to support the development of DAMAE Medical and to join DAMAE Medical’s team in their vision for this promising business opportunity. In its life so far, DAMAE Medical has made a clear demonstration of a robust capacity to plan and execute, and to deliver on their promise. The market opportunities targeted by DAMAE Medical’s key product OCTAV® provide hope in the fight against cancer through earlier, more accessible and more reliable diagnosis.”