Stories: EIC Pathfinder beneficiary HEMEX completes a €6.8 million Series C round
HEMEX, an EIC Pathfinder beneficiary company, has completed another fundraising round. After the first closing in February 2021, they secured a Series C round, increasing the amount to approximately €6.8 million (CHF 7.1 million).
According to Pascal Winnen, CEO & Co-founder of HEMEX, the funds will be used to make "Initial investments in early-stage life science startups and follow-up in subsequent rounds of our portfolio companies". "We will also be able to strengthen our team force in the clinical operations, quality assurance, and regulatory affairs departments. Hence, we will be increasing the range of services offered at HEMEX", Pascal added.
Besides the raised sum of money, new members have also joined the already existing ones who remained part of the HEMEX's "Investor Club". This group of investors can benefit from HEMEX's expertise on the scene of healthcare startups. "With the continued support of our existing investors and the new members of our Investor Club, it's essential to offer an in-depth understanding of healthcare startups for targeted high-return investments", Pascal explained.
HEMEX is a consultancy on life sciences headquartered in Switzerland, with two subsidiaries in Germany and the USA. The company offers healthcare startups the services needed to bring their innovative products to market, especially during the clinical development phase. Their goal is to ensure startups have access to a wide range of tailored products, practical solutions, and fundraising support. For Pascal, this newly closed funding round represents that their business model can thrive: "The closing of this founding round it's very important for HEMEX as it demonstrates the potential of our business model. Our highly qualified team of healthcare professionals working together with HEMEX's strong network of specialized consultants provides executive leadership assistance, supports our portfolio companies as a Clinical Research Organization, and helps startups reach market approval and successful exits".
With this vision in mind, HEMEX is part of the SAFE-CAB Fast Track to Innovation (FTI) project led by AMT Medical BV and with 3 other partners from Germany, Netherlands and Switzerland. This project plans to accelerate the time to market of this product through final clinical validation and regulatory certification. Their goal is to replace invasive CABG with the ELANA Heart Bypass as the new standard of care. The Fast Track to Innovation (FTI) was part of the Enhanced European Innovation Council pilot (Enhanced EIC pilot) (specifically, the Pathfinder).