Medyria secures CHF 3.7 million to bring novel diagnostic device closer to market entry

11.01.2023 09:15, Morgane Ghilardi

The Series B financing is a CHF 3.7 million equity investment from new and existing investors. Medyria's PyCath will be the only device on the market with pressure and blood flow velocity sensing for the invasive diagnosis of ischemic heart conditions. The company is a Venture Kick and Venture Leader alum and has been named a TOP 100 Swiss Startup.

Medyria AG is a Medtech company leader in blood flow velocity sensing. Based in Winterthur, the startup recently launched the development of PyCath, a novel microcatheter for the invasive diagnosis of ischemic heart conditions, including obstructed and non-obstructed coronary stenosis. 

The PyCath system will be positioned as the only device on the market with pressure and blood flow velocity sensing, with superior usability and reliability, allowing the device to become the best-in-class device for full physiological assessment rapidly.

The leader of the investment round is Geneva-based Yellowstone Holding AG. The following investors include EFI-Lake Geneva Ventures, Start Angels Network, Zürcher Kantonalbank, and several independent business angels.

The funds will be used to bring the PyCath system from the current pre-clinical stage to the completion of the design, establishment of the production processes, and initialization 510(k) FDA clearance process for access to the US market.

"I would like to thank the lead Investor and the other investors for their renewed trust in Medyria," commented Mauro M. Sette, co-founder and CEO of Medyria. "The PyCath system will be the next revolution in Interventional Cardiology Physiology, where current devices have insufficient performance to properly serve the burning clinical need. This injection of new capital will allow us to accelerate the development and bring the device to the market in the shortest possible time."

"I am very confident that Medyria is on the right track to becoming the new star in the Interventional Cardiology market," Giovanni Leo, Medyria Board Member and Partner at EFI-Lake Geneva Ventures commented. "We at Lake Geneva Ventures are fully committed to supporting the company and bringing this Swiss excellence to success."

"Yellowstone Holding is active in the EU and Swiss Medtech investment for many years," said Amanda Chang, Manager at Yellowstone Holding AG. "We are very selective with our investment. We truly believe in Medyria, a company based on a superior technology that can shape the future of cardiology."

Medyria was awarded CHF 30,000 by Venture Kick in 2012, and was named a TOP 100 Swiss Startup in 2016. In 2019, the startup was chosen to participate in the Venture Leaders Life Science program, which took ten entrepreneurs on an investor roadshow in Boston, a hub of the Medtech and Biotech sectors, as well as the Startup Champions Seed Night event in Lausanne.