What does Hy2Care do?
Hy2Care is a biomedical company developing an injectable hydrogel implant, CartRevive, that aids in the natural repair of damaged cartilage. The company is a spin-off from the MIRA Institute of the University Twente and specializes in biomedical and chemical engineering innovations.
How much did they raise?
The company raised €4.5M in funding, with half of the amount coming from the European Innovation Council (EIC) Fund investment awarded in 2022 as a part of the EIC Accelerator, and the remainder from existing shareholders led by Brightlands Venture Partners, with participation from new investors including LIOF.
What are their plans for the money?
Hy2Care intends to use the funds to complete critical preparations for its upcoming US clinical trial, which could pave the way for broader market entry and further validation of its regenerative medical technology.
What have they achieved so far?
The company has already made significant progress by completing patient enrolment for its EU clinical trial scheduled for 2024 and is anticipating CE marking and European market approval by early 2026.
