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Mellon Medical has raised 6 million to advance its patented ground breaking global innovation in suturing technology. Leading product, the Switch, a single use precision-suturing instrument, enables surgeons to suture tubular and layered structures about twice as fast as the conventional technique. The financing round was led by Dutch life sciences and health investor BioGeneration Partners (BGV). Other investors were former Allergan CEO and private investor David Pyott and existing shareholders Dutch Thuja Capital, Innovatie en Energiefonds Gelderland managed by Oost NL, and Brabantse Ontwikkelings Maatschappij (Brabant Development Company, BOM). BGV partner Oskar Slotboom will join Mellons Supervisory Board.
Mellon will introduce its technology in an 8cm Switch model, initially focusing on three vascular indications: carotid artery surgery, kidney transplant and peripheral bypass surgery. Although market introduction is focused on vascular surgery, Mellons platform technology can be used in a broad range of other disciplines, like general surgery, micro surgery, urology, gynecology, coronary artery bypass surgery and neurosurgery. The annual worldwide sutures and suturing devices market size is estimated at $3 billon by 2020.
The technology is expected to reduce the risk of complications, for instance reduced clamp time for many cardiovascular procedures, resulting in improved patient outcome and a reduction of costs. Mellon expects market introduction...