French MedTech startup SafeHeal, a medical device innovator transforming colorectal surgery, today announced a €10 million extension of its oversubscribed €35 million Series C financing round.
The extension is led by Asabys Partners through its Sabadell Asabys II fund, which joins a syndicate that includes Sofinnova Partners, Solar Eclipse, Gideon Strategic Partners, Polis, and M&L Healthcare.
“We are delighted to welcome Asabys Partners as the lead investor in this Series C extension,” said Chris Richardson, President & CEO of SafeHeal. “Their addition strengthens our strategic capabilities in MedTech and demonstrates our growing momentum as we advance toward FDA approval and EU commercial launch. We’re equally grateful for the continued support from Gideon Strategic Partners and the entire syndicate of world-class investors.”
Founded in 2015, SafeHeal is a medical device company developing Colovac, a device intended as an alternative to diverting ostomy in patients undergoing colorectal surgery.
Colovac is a flexible endoluminal bypass sheath designed to reduce the contact of fecal content at the anastomotic site following colorectal surgery. The device is placed endoluminally and is fully reversible.
The device remains in place for approximately 10 days, until the body’s natural healing and tissue repair processes are complete, after which it is removed during an endoscopic procedure without the need for a second surgical intervention.
This enables patients to resume their normal life without the stigma and complications associated with an ostomy procedure.
As part of the financing, Josep Ll. Sanfeliu, Managing Partner and co-founder of Asabys, will join SafeHeal’s Board of Directors.
Sanfeliu commented: “Asabys is an ambitious and fast-growing investment firm committed to supporting world-class healthcare innovation across Europe and beyond. We are proud to join SafeHeal’s investor syndicate, reflecting our belief in both the outstanding team and the transformative impact of Colovac for patients facing colorectal cancer surgery.
“We look forward to working closely with SafeHeal’s management and our fellow investors to help bring this important technology to patients worldwide.”
The new capital raise will further accelerate SafeHeal’s pivotal U.S. IDE study and support the planned commercial launch of Colovac in the EU.