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