Healionics Spins Out Ophthalmic Device Company In Europe
This article was originally published in Start Up
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.