Comphya successfully raises additional funds for pilot clinical trials
31 January 2023
PRESS RELEASE
Lausanne, Switzerland, January 31st, 2023. Comphya SA, developer of the first neuromodulator to treat erectile dysfunction (ED), today announced the fundraising of CHF 850k in a convertible loan. This brings the total amount of funds raised to CHF 5.1 Mio. The financial round included investment from existing shareholders and additional investors. Praxis Spinal Cord Institute, a non-profit organization, also committed to participate in this financing round. Praxis is an advocacy group which aim is to accelerate the translation of discoveries into improved treatments to benefit people living with spinal cord injuries (SCI). Praxis’ support strengthens Comphya’s mission to bring a better solution to SCI individuals and their partners.
The proceeds of this fundraise will secure the start of the pilot clinical trials in Q1 2023, a major milestone for Comphya. Indeed, clinical data from these pilot studies is critical to bring out the CaverSTIM system to benefit patients with ED. The pilot clinical trials will assess the safety and preliminary efficacy of the CaverSTIM device.
Rodrigo Fraga-Silva, CEO and co-founder of Comphya commented “We are pleased to execute on our clinical roadmap and start the clinical trials in Australia, Brazil, US and France. These trials will provide essential data for prostatectomy, spinal cord injury and general ED patients.”
“My thanks to existing and new investors in Comphya, your contributions will help us to bring our unique solution to ED patients”, stated Steven Swinson (Chairman of the Board).
About CaverSTIM
CaverSTIM is the first implantable neurostimulator to restore erectile function. This new technology is primarily intended for patients that are non-responders to oral drugs such as spinal cord injured patients or post-prostatectomy patients. CaverSTIM is a neurostimulation system composed of an implantable pulse generator (IPG), containing the rechargeable battery and electronics responsible for the generation of the electrostimulation signal; and connected to two electrodes array (with several electrodes) to be implanted in the pelvic cavity and which will activate and restore the nerves responsible for penile erection. The IPG is implanted subcutaneously in the lower abdomen and it is remotely operated by external controllers. The clinician controller allows the medical expert to adjust and tailor the system parameters to best fit each patient; and the patient controller, allows the patient to activate the device on-demand to evoke penile erection for the treatment.
About Comphya SA
Comphya is a medical device company based in Lausanne, Switzerland, developing CaverSTIM, the first implantable device to restore erectile function in patients non-responsive to oral drugs. Today, these patients resort to intrapenile injections or penile implants, which are the only available yet painful, problematic and outdated therapies. Comphya’s patented solution offers a unique and superior treatment for erectile dysfunction. The company’s goal is to offer physiological sexual function and quality of life to large parts of the male population in great need.
For more information, visit www.comphya.com.
Contact
Comphya SA
Rodrigo Fraga-Silva, PhD
CEO & Co-founder