Strasbourg-based Dianosic has raised more than €1.5m (US$1.6m) in capital and non-dilutive funding to help it develop ear, nose and throat products.
Funding for the round came from PAF Kapital, a group of business angels, Bpifrance Alsace, the Grand Est Region and two banks, Caisse d’Epargne Grand-Est Europe and Banque Populaire Rives de Paris.
“Our goal is to position Dianosic as a European leader in the treatment of nasal cavity pathologies,” said president Marc Augustin.
Dianosic’s first device is the asymmetrical intranasal balloon, CAVI-T, which stops spontaneous or postoperative bleeding –hemostasis – with low pressure compression, adapting to the nasal cavity.
The device was CE marked in February 2020. It is covered by a patent valid for France and it will soon be covered in Europe, the US, Japan and China.
“For doctors and surgeons, in their daily practice, this device will considerably ease the care of those patients who can benefit from this innovative product,” said Christian Debry, co-founder of the company and head of the ENT & Head and Neck Surgery Department of the Strasbourg University Hospital.
Founded in July 2017, Dianosic won the i-Lab contest in 2019, organised by the French Ministry of Higher Education, Research and Innovation, in partnership with Bpifrance.