Lindis Blood Care successfully closes follow-on financing round
Novel approach designed to be a safe and cost-effective way to reliably remove tumor cells from autologous blood
Lindis blood Care, a company aiming to set a new Gold Standard for blood management during cancer surgeries with its medical device CATUVAB®, announced the closing of a follow-on financing round. The new investment will mainly be used to expand the clinical program, take the company through the CE and the start of the FDA market application process as well as support ongoing partnering activities. The round was led by existing investors, including High-Tech Gründerfonds and Brandenburg Kapital, the venture-capital arm of the investment bank of the State of Brandenburg, as well as several private investors, one of whom is investing in LBC for the first time.
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“This investment comes at an exciting time for Lindis Blood Care, and we are grateful for the continued support and trust that our investors have placed in our innovative approach,” commented Dr. Franzpeter Bracht, founder and Managing Director of Lindis Blood Care. “The feedback and interest we have received from both the medical community and potential partners support the urgent need for an effective and easy-to-implement tumor cell removal method that can avoid the risks associated with allogeneic red blood cell transfusions and decrease the use of donor blood. The clinical results we have seen so far with CATUVAB® are highly promising, and we look forward to seeing the top-line results from the ongoing REMOVE study, expected in mid-2022. These results, if positive, will form the basis for a potential CE medical device certification in Europe and other regions.”
Thomas Krause, Managing Director of Brandenburg Kapital, said: “We are delighted by the great progress the team has made over the past two years in turning a concept into a clinical-stage program and are truly excited about how this technology may improve patient lives.”
“We are pleased to support this new funding round to bring Lindis Blood Care´s innovation a huge step closer to the market as we see the potential for CATUVAB® to transform patient blood management in oncologic surgery,” added Angelika Vlachou, Senior Investment Manager at HTGF.
Autologous (patient’s own) blood transfusion has long been considered unsafe in cancer surgery due to the risk of metastases from tumor cells being released into the blood during the procedure. With its medical device CATUVAB®, Lindis Blood Care aims to set a new Gold Standard in cancer patient blood management by reliably removing tumor cells from patient blood collected during surgery.
CATUVAB® could thus avoid the limited availability and negative effects of donor blood transfusions, including severe side effects, tumor recurrence and decreased life expectancy. CATUVAB®’s mechanism of action is physical and does not involve pharmacological, immunological, or metabolic action. In testing to date, the device has shown high specificity and good safety. The approach can easily be integrated into existing clinical practice and represents a cost-effective method compared to fully burdened allogeneic blood transfusions and the treatment-related costs due to severe side effects associated with such transfusions.
The company’s approach has already shown proof of concept both in vitro and in an initial clinical study. The data showed that no tumor cells could be detected in the surgical blood treated with CATUVAB®. A confirmatory multicenter clinical study was initiated in February 2021 with the objective to achieve European CE certification by the end of 2022.
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