Boston, 2nd November, 2016 – MassChallenge™, the world’s most startup-friendly accelerator on the planet, named Adhesys Medical a $100k Diamond Award winner. The announcement was made at the annual MassChallenge Awards, which drew more than 1,500 leaders and supporters from the Boston entrepreneurial community to celebrate the MassChallenge entrepreneurs at the Boston Convention and Exhibition Center.
Adhesys Medical develops fully synthetic, biodegradable surgical adhesives based on polyurethane. Founded in Aachen, Germany in 2013, the company has developed two products, one for wound closure on the skin and one for use inside the body. In 2015 the company expanded to the United States to bring its adhesives to the US market.
“We are honored to receive this award and proud to have developed a product others believe in and get excited about”, said Alexander Schueller, co-founder and President of Adhesys Medical. “MassChallenge has been a great success for us and has allowed us to increase our network and build relationships with local partners that will support us in bringing our product to market.”
Adhesys Medical was one of 128 early-stage companies accepted into the 2016 MassChallenge Boston program, from more than 1,700 applicants, and now joins a network of more than 1,200 alumni globally. Over the past four months, the startup has leveraged the organization’s global network of mentors, experts, and corporate and nonprofit partner organizations to launch and grow their business at zero-cost and for zero-equity.
“We’re excited to celebrate the winners from this year’s Boston cohort, which has been our most competitive class to date,” said Scott Bailey, Managing Director of MassChallenge Boston. “Each startup has spent the past four months working towards creating long-term value and positive impact in their respective industries. It’s been incredible to watch them launch, grow, and make meaningful connections across the Boston entrepreneurial community throughout the program.”
Adhesys Medical’s one-minute pitch can be found here.
About Adhesys Medical:
Adhesys Medical was started in 2013 in Aachen, Germany, by Dr. Heike Heckroth, Prof. Dr. René Tolba, Prof. Dr. Malte Brettel, Marius Rosenberg and Alexander Schueller. In a first financing round (closed in January 2014) the company received funding from the Seed Fund Aachen II, the KfW Bank and private investors. In April 2014 the team won the Rice Business Plan Competition in Houston, Texas and $500,000 in investment prize money. After receiving further financing from the U.S. investors, including the GOOSE Society of Texas and OWLS, the Rice University Alumni, Adhesys Medical opened an office in the United States, from which the company manages the commercialization, U.S. regulatory and financing activities.
Adhesys Medical Inc.
2450 Holcombe Blvd., Suite X
Houston, TX, 77021
Phone: +1 (832) 213-9967
MassChallenge is the most startup-friendly accelerator on the planet. No equity and not-for-profit, we are obsessed with helping entrepreneurs across any industry. We also reward the highest-impact startups through a competition to win a portion of several million dollars in equity-free cash awards. Through our global network of accelerators in Boston, the UK, Israel, Switzerland, and Mexico, and unrivaled access to our corporate partners, we can have a massive impact – driving growth and creating value the world over. To date, 1,211 MassChallenge alumni have raised over $1.8 billion in funding, generated over $700 million in revenue, and created more than 60,000 direct and indirect jobs. For more information, please visit masschallenge.org.
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