ENT conditions start up Dianosic closes first funding round of 1.5M Euro

108

First round of funding will enable Dianosic to support European launch of CAVI-T™, its intranasal bleeding treatment device, and pursue development of disruptive solutions in treatment of chronic sinusitis

Dianosic, a Strasbourg-based start-up specializing in innovative solutions for Ear, Nose and Throat (ENT) conditions, today announces a first round of more than €1.5 million ($1.63M) in capital and non-dilutive funding 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.

This is the first round of funding for Dianosic since its creation in July 2017 by Marc Augustin, Philippe Bastide and Pr Christian Debry, head of the ENT & Head and Neck Surgery Department of the Strasbourg University Hospital.

The company won the i-Lab contest in 2019, organized by the French Ministry of Higher Education, Research and Innovation, in partnership with Bpifrance.

Dianosic offers disruptive answers to medical needs for pathologies of the nasal cavity that are currently insufficiently covered. Its first innovative device is the asymmetrical intranasal balloon, CAVI-T, which stops spontaneous or postoperative bleeding – hemostasis – with low pressure compression, adapting to the unique anatomy of 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 Pr Christian Debry.

With its second medical device, the Active Resorbable Intranasal Scaffold (ARIS), currently under development, Dianosic aims to revolutionize the management of chronic sinusitis, which affects 10% of the general population. Resorbable and minimally invasive, the ARIS device delivers a steroid in a targeted manner to patients over a long-term period (12 months) without needing prior surgery, unlike current solutions.

“This round of financing will allow us to accelerate the launch of our first product, CAVI-T, dedicated to the treatment of intranasal bleeding (epistaxis), and to strengthen our portfolio with the ARIS solution, a major breakthrough in the management of chronic sinusitis,” said Marc Augustin, president of Dianosic. “Our goal is to position Dianosic as a European leader in the treatment of nasal cavity pathologies.”

“With the ARIS device, Dianosic’s ambition is to address the limitations observed with current treatments for chronic sinusitis. In this context, our solution will enable patients not responding to first-line drug treatments to benefit from an effective, long-term treatment whilst preserving quality of life for those living with this debilitating disease. The ARIS device will also provide hospitals with an adequate outpatient response to a pathology that is very costly for the community,” said Philippe Bastide, CEO of Dianosic.

“PAF Kapital is delighted to support Dianosic in the marketing and development of its innovative solutions for ENT pathologies,” said Jean-François Auffret, PAF Kapital. “We believe in the technology developed by the company, but also in its team and its know-how.”

Legal advisor: Vincent Baudouin, Cabinet Carrel
Financial advisors: Michel Jolly, Gilles Hoareau, Grant Thornton

About PAF Kapital
PAF Kapital, founded by seasoned entrepreneurs (Christophe Pasik, Jean-Francois Auffret and Pierre Ferran), is an investment structure for start-up companies in the healthcare sector.

About the business angels
The majority of investors come from the medical sector: founders of companies in the medical field (laboratories, service companies), some still in practice, others having sold their business, and executives from large groups in the medical device area.

About Dianosic SAS
Dianosic develops innovative solutions for the management of ENT conditions. Incubated by SEMIA, named ‘incubator of excellence’ for the Grand Est region since January 2018, the company is supported by the ecosystem of the Grand Est region, the SATT Connectus, Bpifrance Alsace, Biovalley France, the Eurometropolis of Strasbourg and Innouvo/Cajuba Finance. Dianosic is led by company president Marc Augustin and CEO Philippe Bastide. Professor Christian Debry, head of the ENT department at Strasbourg University Hospital Center, acts as a scientific advisor to the company.

Dianosic was a winner at i-Lab 2019, an innovation contest run by the Ministry of Higher Education, Research and Innovation and Bpifrance. Founded in July 2017 and based in Strasbourg, Dianosic aims to become a European leader in the management of intranasal bleeding and chronic sinusitis with its active, long-term resorbable treatment.