Comphya raises USD 3.0 million in the first financing round and appoints Dr Steve Swinson as Chairman of the Board
25 July 2019
Comphya SA, a developer of a novel implantable neurostimulator to treat erectile dysfunction in non-responders to oral drugs, today announced the fundraising of USD 3.0 million in a Seed Investment round, and the appointment of Dr Steve Swinson as Chairman of the Board. The financial round was led by Investiere.ch, the leading Swiss venture capital platform, and followed by Zurich Cantonal Bank, NEST pension fund and private investors.
The proceeds of the financing will be used to complete product development and perform the pilot clinical trial. The production is outsourced to a well-established partner in the neurostimulation space. The first clinical results are expected in 2020.
Dr Steve Swinson joins Comphya as the Chairman of the Board. Steve is a senior executive with over 30 years of experience in the medical device technology and capital equipment arena. Steve has held senior executive positions at GE and Medtronic. As board member and Chairman, he participated in the successful exit of three healthcare companies, showing impressive serial success in the venture space. Today, Steve is also current Chairman of the Board of Tibbiyah Holdings. Steve holds a PhD in electrical engineering from Manchester University in the United Kingdom and an MBA from the University of Chicago.
Steve commented “I am very pleased to join the innovative Comphya team and I look forward to the start of our pilot clinical trial and our ultimate goal to offer a unique and superior treatment.”
Nikos Stergiopulos commented “I am very pleased to have the first funds in and to start the journey to the clinical proof of our technology. Very happy also to have Steve Swinson join our team. Many thanks to our investors and to the people who have supported us. Exciting times ahead for Comphya”.
“Our team is very excited and motivated to get to the next level. We are delighted to have Steve Swinson onboard. His leadership, experience and insights into the MedTech world will significantly strengthen our team” added Rodrigo Fraga-Silva, CEO. “We’re convinced that Comphya’s approach has a very large potential because it addresses a pressing unmet need in a underserved market”, Investiere.ch investment manager Susanne Schorsch says.
About Comphya SA
Comphya is developing a novel implantable device to restore the erectile function in patients non-responsive to oral drugs (e.g. Viagra), particularly, spinal cord injury and postprostatectomy 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 ED. The system stimulates the cavernosal nerve (pro-erectile nerve) via wireless external controllers, to restore natural penile erection. The company’s goal is to offer physiological sexual function and quality of life to large parts of the male population in great need. The company is a spin-off from the Ecole Polytechnique Fédérale de Lausanne (EPFL) that emerged from the research group of Prof. Nikos Stergiopulos, at EPFL ( https://lhtc.epfl.ch), one of the most active and successful academic labs developing medical technology from the lab bench to the clinic. For more information, visit: www.comphya.com