Hy2Care is a spin-off company from the University of Twente. Hy2Care was established to commercialize the hydrogel technology for cartilage repair as developed within the group Development BioEngineering led by prof. Marcel Karperien, who is a founder and also holds the position of Chief Scientific Officier in the company.
Hy2Care develops a unique resorable injectable hydrogel which is based on naturally occuring ingredients, crosslinks in situ after injection during a minimal invasive arthroscopic viewing procedure with minimal burden on the patient. The hydrogel is intended to provide fast pain relief and restoration of functionality. Over time (several months) the hydrogel will degrade; in the meantime the body gets rest and the oppurtunity to provide for new cartilage.
With pre-clinical large animal studies proving the concept, the company was able to convince an investment consortium and received a 3.7M € investment in Q2 of 2019 to embark on the road towards human clinical testing, preparing approval from notifying bodies to initiate commercial availability, as well as commercialize the technology for veterinary aplications. At the closing of this investment, Leo Smit was appointed CEO of Hy2Care to lead the company.
With the remainder of 2019 occupied in starting up the preparation for clinical testing and building a team, Hy2Care is now preparing itself for filing the official approval dossier in order to initiate clinical testing in the 2nd half of 2020.
Website Hy2Care: www.hy2care.com
Press release Series A: See Here.