Gecko Biomedical lands $1.6m loan for surgical adhesives

Gecko Biomedical said today that it landed a $1.6 million, interest-free loan from Bpifrance for the surgical adhesives it’s developing.

Paris-based Gecko, which pulled down a $25 million Series A2 round in March, said the €1.4 million loan will go toward clinical trials in Europe aimed at winning CE Mark approval during the 1st half of 2017.

“Bpifrance’s continuous support not only provides us with financial stability towards our future, but also is a testimony of the value of our biopolymers platform. As such, Bpifrance is a central stakeholder to our short, medium and long-term development,” CEO Christophe Bancel said in prepared remarks.

Founded in 2013 by famed MIT hydrogels pioneer Bob Langer and Dr. Jeff Karp of Boston’s Brigham & Women’s Hospital, along with Bancel and Bernard Gilly of the iBionext Network, Gecko is also working on a high-viscosity, hydrophobic, fast-curing polymer called GB-02 for cardiovascular reconstruction. When cured, the polymer is designed to form an elastic, biodegradable film.

(€1 = $1.11058)

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