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Healionics Spins Out Ophthalmic Device Company In Europe

Companies offering broadly applicable biomaterials platforms often have an identify problem and with that, a funding problem. Seattle-based Healionics Corp. is solving that problem by creating clinically focused spin-outs that just happen to be in Europe where they can capture non-dilutive funding from regional governments. The company’s first spin-out, iSTAR Medical SA, is working on ophthalmic devices, specifically a suprachoroidal drainage shunt for glaucoma. In September, iSTAR was awarded a €3.6 million ($4.7 million) grant from Belgium’s Région Wallonne government.

Companies offering broadly applicable biomaterials platforms often have an identity crisis and with that, a funding challenge. Seattle-based Healionics Corp. believes it is solving that problem by creating and growing clinically focused spin-outs in Europe where public-private funding partnerships are more readily available for start-ups. The company’s first spin-out, iSTAR Medical SA, is working on ophthalmic devices, and recently announced CE mark approval for STARflo, a suprachoroidal drainage shunt for glaucoma. In September, iSTAR was awarded a €3.6 million ($4.7 million) collaborative grant from Belgium’s Région Wallonne government.

Healionics was founded in 2007 to develop a synthetic three-dimensional precision-pore biomaterial called STAR, for “Sphere Templated Angiogenic Regeneration.” (SeeAlso see "Healionics Corp." - Medtech Insight, 1 June, 2008..)...

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