The two French start-ups – DAMAE Medical and Neurallys – have been awarded by the City of Boston and the Greater Boston Chamber of Commerce the “Paris Boston MedTech Award” in recognition of their innovation and potential for entry into the US market. They were selected by a bi-national jury composed of French Tech Hub – the largest French startups accelerator in the US – and MassMedic (Massachusetts medical devices industrial alliance). Last year’s winner of the award, Biomodex, has since relocated its CEO to Boston and is hiring locally.
These start-ups are part of a 250-company life sciences ecosystem in the Paris Region — the Medicen Paris Region competitiveness cluster — one of the largest healthcare hubs in Europe.
“Given Boston’s legacy as a global innovation leader in IT, medical technology and life sciences, French Tech Hub and its partners are ramping up an already strong effort to further globalize the French ecosystem – with Boston as a hub,” said Marie Buhot-Launay, GM US Market Entry for French Tech Hub. “With our Paris-based partner, Medicen Paris Region, we’re working to bridge the gap between Paris Region and Massachusetts’ ecosystem. We believe both clusters can help healthcare companies thrive and become industry leaders.”
Since 2012, French Tech Hub has served more than 200 French IT and life sciences companies in the U.S., which have raised more than $200M in venture funding. Among these, 26 selected Massachusetts as their U.S. beach head. French companies overall, from startups to large corporations, have had a significant impact on the state’s economy with 26,000 local jobs created and more than $1.5 billion annual trade in goods.
“These numbers are due to both the attractiveness of the greater Boston area and the efficient support of the French local organizations in New England — including the French American Chamber of Commerce, the French Consulate in Boston, as well as Medicen Paris Region,” Ms. Buhot-Launay said.
On behalf of DAMAE Medical and Neurallys, French Tech Hub and Medicen Paris Region are also leveraging the resources of Bpifrance, the full-service financing arm of the French government.
At the recent MassMedic MedTech Showcase (Oct. 27) at the Westin Hotel, in Waltham, DAMAE Medical and Neurallys were among 21 handpicked startups to “pitch” their business to the region’s largest medical technology audience.
“MassMEDIC is pleased to partner with Medicen Paris Region in showcasing two of its most impressive start-up companies. DAMAE Medical and Neurallys are developing innovative medical product solutions, and we look forward to working with company representatives as they grow their companies,” said Thomas J. Sommer, President of MassMEDIC.
DAMAE Medical provides dermatologists with a new in vivo imaging modality capable of producing in-depth images of the tissue, like histology without the need for skin tissue excision and processing.
Neurallys has developed a smart sensor offering continuous measurement of intracranial pressure for patients living with hydrocephalus (a condition in which there is an accumulation of cerebrospinal fluid within the brain) to diagnose valve dysfunction, increase patient comfort and prevent exploratory surgeries for people who have a shunt.
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