Today, Niterra announced its participation in the $10 million convertible debt financing for Imbed Biosciences (a tissue engineering company developing advanced biomaterials for soft-tissue repair). And Niterra’s investment was made through the CVC fund jointly operated with Pegasus Tech Ventures and this round included strong participation from existing investors.
Imbed developed the world’s first and only fully synthetic and antimicrobial wound matrix made of biocompatible polymers – which is FDA-cleared for several use indications – including management of burns, skin grafts, and chronic and surgical wounds. And the antimicrobial matrix offers a healing environment conducive to tissue growth and suppresses the growth of microbes and biofilms. The published prospective human clinical trials have shown that including the matrix in the care protocols helped jump-start the healing of stagnant or deteriorating chronic wounds suspected of persistent microbial colonization, leading to a faster recovery with less chance of infection, improving patient outcomes.
The global advanced wound care market is projected to hit $18.7 billion by 2027, and chronic wounds impact 5.7 million people in the United States. And with this latest financing round, Imbed Biosciences will further establish its position as the leading developer of advanced devices for managing burns, wounds, and soft-tissue repair. The funding will scale commercial operations, advance innovation, and increase sales channels.
KEY QUOTES:
“People with slow-healing wounds are at high risk of infection, leading to secondary medical complications, including sepsis or amputation. We have developed the first fully-synthetic and antimicrobial wound matrix based on our patented Microlyte® technology that has been shown to drastically reduce healing time of such deteriorating wounds. It is now stocked on the formulary of several large hospital systems across the U.S. More than a hundred thousand units of Microlyte Matrix were used in complex wounds over the last twelve months, reassuring it as the emerging preferred choice of physicians. This investment allows us to accelerate our commercial growth while also advancing our solutions to help more people.”
— Ankit Agarwal, PhD, co-founder and chief scientific and quality officer for Imbed Biosciences
“Niterra is focused on investing in solutions that improve the quality of life for everybody. Wound care has traditionally been expensive with a high risk of complications and has been ripe for innovation. We believe that Imbed Biosciences is redefining wound care and are excited to partner with Dr. Agarwal and his team to further improve patient quality of life.”
— Dirk Schapeler, president of Niterra Ventures Company
