Hy2Care Secures €4.5M Funding for US Clinical Trials
Deal News | May 14, 2025 | Brightlands Venture Partners
Hy2Care has raised €4.5 million in funding to prepare for upcoming U.S. clinical trials of its CartRevive hydrogel implant, designed for cartilage repair. The new funds will also facilitate commercial expansion in Europe and other global markets. The European Innovation Council (EIC) Fund and various investors, led by Brightlands Venture Partners, support this initiative. CEO Leo Smit describes this phase as transformative, with the company's efforts aimed at setting new standards in minimally invasive cartilage treatments. The EIC Fund plays a strategic role in bridging financial gaps for companies driving disruptive technologies.
Sectors
- Medical Devices
- Venture Capital
- Biotechnology
Geography
- United States – Hy2Care is preparing for a clinical trial in the U.S. with its CartRevive hydrogel implant.
- Europe – Part of the funding comes from the European Innovation Council Fund, and Hy2Care is gearing up for commercial expansion in Europe.
- Netherlands – Hy2Care is a spin-off from the University of Twente in the Netherlands.
Industry
- Medical Devices – Hy2Care specializes in innovative hydrogel implants for cartilage repair, a significant advancement in the Medical Devices industry.
- Venture Capital – The involvement of Brightlands Venture Partners and the European Innovation Council Fund highlights the role of Venture Capital in funding innovative medical technologies.
- Biotechnology – Hy2Care's CartRevive hydrogel platform represents a significant development in biotechnology, offering novel solutions for cartilage repair.
Financials
- €4.5 million – Total funding secured by Hy2Care to prepare for U.S. clinical trials and commercial expansion.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hy2Care | Target | Company | A Dutch spin-off specializing in hydrogel implants for cartilage repair. |
| Brightlands Venture Partners | Lead Investor | Company | The lead investor in Hy2Care's recent funding round. |
| European Innovation Council Fund | Investor | Government | A fund designed to support disruptive technologies within the EU. |
| LIOF | Investor | Company | The regional development agency for Limburg and a new investor in Hy2Care. |
| Leo Smit | CEO | Person | Chief Executive Officer of Hy2Care. |
| University of Twente | Background | Company | The university in the Netherlands from which Hy2Care was spun off. |