MgShell closes €500k investment round
MgShell’s technology is able to innovate and solve numerous problems related to the treatment of exudative maculopathy, one of the leading causes of blindness in industrialised countries.
26 January 2023 – MgShell, a MedTech that aims to revolutionise the treatment of exudative maculopathy, announces the closing of a €500,000 investment round by Bios Line Holding, a company that invests in Life Sciences ventures, Club degli Investitori, one of the leading business angel groups in Italy, and Italian Angels for Biotech, the first Italian angel association exclusively dedicated to Life Sciences. The latter made the investment through the Ersel Group’s Simon Fiduciaria.
In the difficult clinical context associated with age-related macular degeneration or maculopathy, a chronic ocular pathology and the leading cause of blindness in industrialised countries among the over 50s, MgShell proposes an innovative game changer, a patented, completely biodegradable and bioabsorbable intraocular device for the release of pre-loaded doses of drug at pre-set times.
The technological solution developed is able to replicate current clinical practice, drastically reducing the number of intravitreal injections and thus the numerous associated inconveniences for patients, caregivers and hospital staff. This technology makes it possible to increase patient adherence to the treatment protocol and prevent irreversible vision loss for a larger number of patients who would otherwise be forced to abandon treatment.
Marco Ferroni, CEO and Founder of MgShell, said: “We are proud to have Bios Line Holding, Club degli Investitori and Italian Angels for Biotech among our investors and we are convinced of their potential economic and strategic impact to support the growth of MgShell. This operation represents a very important milestone for the Company, as it will allow us to accelerate the development of our technology, validating it on models that are increasingly faithful and closer to human application. This step will allow us to move ever closer to our goal of developing the new gold-standard therapy in the ophthalmic field for the treatment of exudative maculopathy and other retinal pathologies, pathologies with which patients and ophthalmologists struggle every day.”
Enrico Gianotti, Champion of the deal for the Club degli Investitori, said: “It is a pleasure to be able to actively support MgShell in the development of this interesting R&D project. The multiple benefits of this technology and the solid skills of the team make us confident in achieving our goals.”
“MgShell has a very interesting and flexible technology for other applications. The Polytechnic researchers who founded it have a great story to tell and write. MgShell has the team, the technologies and now the capital to succeed in the first chapter of its story,” added BLH-appointed observer Stefano Gallucci, who brings his experience as a venture capitalist and CEO in a company in the sector.