Netherlands-based surgical haemorrhage sealant developer Gatt Technologies closed a €10.5m ($11.7m) series B round yesterday featuring Johnson & Johnson Innovation – JJDC, the open innovation arm of healthcare products group Johnson & Johnson.
The round was led by a healthcare-focused investment entity called NGI and included government-founded regional development agency Oost NL. The company has not revealed details of earlier funding.
Founded in 2011, Gatt is developing synthetic blood sealants to control organ leakage and surgical bleeding more effectively than existing methods.
The series B proceeds will fund clinical studies including a clinical trial for Gatt’s first blood sealant, an adhesive patch for surgery, that is expected to take place by the end of next month.
The company’s product pipeline also includes a powder-based sealant and a tape adhesive for treating intestinal anastomotic leakage.
Geert van Gansewinkel, a former general manager at healthcare data provider Iqvia, has joined Gatt as CEO while Vlad Hogenhuis, former senior vice-president at pharmaceutical firm GlaxoSmithKline, has taken a board seat.