Avalanche Medical

No readily available treatment that provides long-lasting pain relief and functional restoration can be offered to middle-aged patients suffering from focal cartilage defects in the knee joint. 90,000 middle-aged patients currently undergo surgical treatment for a focal knee cartilage defect each year in the EU and USA. Avalanche Medica offers SyCap, a biomimetic, non-degradable polymer knee resurfacing implant to treat cartilage defects in this patient group. The SyCap implant will provide long-lasting functional restoration and pain relief without damaging opposing and surrounding cartilage. The SyCap implant is available off-the-shelf, allows for immediate load bearing with a short rehabilitation time, and accommodates future diagnostic imaging (MRI and radiography). In vivo evidence in goats shows stable short-term fixation and preservation of opposing cartilage. Long-term goat studies are planned to start in Q1 2019. Three patent applications are in process with respect to implant surface treatment, implant embodiment, and implant composition. SyCap is currently negotiating exclusive rights to this IP. The SyCap team is composed of an excellent mix of highly qualified and driven people; two biomedical engineers (Alex Roth PhD, Guusje Evers), an experienced chemist with extensive material knowledge (Henk Oevering PhD), and an orthopaedic surgeon specialized in treatment of knee cartilage defects (Pieter Emans MD PhD). We are currently seeking staged funding for stepwise clinical and market introduction. First round financing of €2.5 million is required for a 20 patient first-in-man safety study to be initiated in 2021. Second round financing of €5.5 million is needed for a subsequent 60 patient efficacy trial to attain CE-mark and drive surgical adoption. Third round financing of €9.2 million is required for widespread market introduction and FDA approval.