In the years since its founding the company has made significant progress. The startup managed to transfer the technology into a commercial manufacturer. Besides that, they completed the required validations, which was an important step too. Biomatrix also made agreements with 2 spine centers in the Netherlands and Germany for a pilot clinical study. On top of that, the startup completed a first equity bridge round of €800K.
On short term, the key challenge is the initial clinical validation of their VitaDisc® product. Reimbursement of the treatment is the longer term challenge for Biomatrix. Both long- and short-term funding for the company remains a continuous challenge for the startup.
Biomatrix is also funded in their early-stage by the Brabant Startup Fonds (BSF). The BSF was instrumental in the seed funding of the company; along with the Momentum Fund, the BSF loan enabled the company to continue to develop preclinical validation, transfer the technology from academia to a commercial environment and to prepare the initial clinical trials.