Evonik invests in Irish medical device company

Evonik has invested in an Irish medical device company, stating that the unique product it produces opens up “a new and exciting area” for the company’s bioabsorbable polymers.

Through its venture capital activities Evonik is partnering Galway-based Vivasure Medical Limited for the development of its ‘Vivasure’ closure device, an innovative technology that helps close arteries easier and faster after minimally invasive surgeries.

"Solutions for health and medical technology are among the key growth areas for Evonik. Due to our technological competence in these areas and our existing product portfolio, Vivasure Medical fits strategically with Evonik", explained Bernhard Mohr, Head of Venture Capital at Evonik.   

The Vivasure Closure Device product utilises ‘Resomer’, a bioabsorbable polymer from Evonik, which has already been used in a number of successful commercial applications.

The device is the first product from the company’s ‘PerQseal’ technology platform, and is the only approved fully bioabsorbable, sutureless and entirely synthetic option to close large-bore arteriotomies that result from percutaneous transcatheter procedures.

Worldwide these minimally invasive procedures are becoming prevalent in operations. In some areas they are already established as the standard owing to the fact that only small incisions are required to perform minimally invasive procedures, which are easier on patients.   

"The participation in Vivasure Medical offers us the chance to open up a new and exciting area of application for Resomer", explained Jean-Luc Herbeaux, Head of Evonik’s Health Care Business Line.    

Gerard Brett, Chief Executive Officer and one of the founders of Vivasure Medical, said: “We are pleased to have Evonik, who can especially help us with its expertise in polymers for Pharma and Medical Device applications as a strategic partner.

“The Vivasure closure device is designed to be easy to use, allowing the surgeon to provide a complete repair at the access site, without leaving metal implants, sutures, or exogenous tissue behind. Our goal is improved clinical outcomes, faster recovery times and better therapeutic results for patients over the open-surgery alternative.”   

In the context of its venture capital activities, Evonik wants to invest in total €100 million in promising start-ups with innovative technologies and in leading, specialised venture capital funds.