Nestled among the magnificent mountain ranges of Southwestern British Columbia, Whistler’s Fast Track VC has completed its first successful campaign.
Fast Track, a global platform that enables accredited investors and funds to co-invest in technology startups, secured €1.3 million for Monarch Bioimplants.
“We get about 100 startups that apply to receive investment from us every month. Monarch was our top pick this round and we are very excited about its potential to not only dominate the market, but also to improve the lives of so many people,” said Ruben Dias, CEO of Fast Track.
Monarch is a biomedical startup based in Switzerland. The company has engineered a chitosan-based medical device that greatly reduces the incidence of impotence following a radical prostatectomy, a surgery that removes the prostate from cancer patients.
Of the annual 1.1 million cases of prostate cancer globally, nearly one-third result in radical prostatectomies. The invasive surgery causes impotence in nearly four-fifths of patients.
“Our quality of life is improving dramatically, we are living longer than ever before, and as men live longer, it is more likely that they will develop prostate cancer,” notes Dr. Montenegro, Managing Director of Monarch Bioimplants. “We need technologies like this to help extend the quality of life of patients after life-saving surgeries.”
Chitosan is a biocompatible, biodegradable material that facilitates nerve regeneration, reduces pain, prevents infections and supports the natural wound-healing process.
Fast Track allows investors to buy into transactions with as little as $10,000.
“The Fast Track team is more engaged than any investors we have worked with in the past,” said Montenegro. “Ruben and his team are truly focused on supporting us as we are begin to bring the product to market.”