Comphya SA, Venture Kick alum in 2017, today announced the fundraising of $3 million in a seed investment round and the appointment of Dr. Steve Swinson as Chairman of the Board.
Comphya's mission is to provide a more comfortable and efficient therapy to restore the erectile function in patients non-responsive to oral drugs (e.g. Viagra), particularly, spinal cord injury and post-prostatectomy patients. Today, these patients resort to intrapenial injections or penile implants, which are the only available yet painful, problematic and outdated therapies. The implantable neurostimulator will recover natural erectile function without pain or discomfort.
With the $3 million seed investment the company will be able to complete product development and qualification, together with their manufacturer partner, and perform the pilot clinical trial. The first clinical results are expected by 2020.
"I have a solid academic-scientific background, but I had poor business orientation at the beginning of the project. Over time, with the Venture Kick training and day-to-day activities, I started acquiring the knowledge and shaping the company strategy. The program was an excellent validation and a good vitrine to expose Comphya to investors." CEO and co-founder Rodrigo Fraga-Silva, said in an emailed statement today.
