Tempo Therapeutics – an innovator in tissue engineering and regenerative medicine – announced the successful completion of its $12 million Series A equity funding round, led by Galaxy-Sirius Partners and Johnson & Johnson Innovation – JJDC, Inc. (JJDC).
This funding round will accelerate Tempo forward as it advances its Microporous-Annealed-Particle (MAP) technology platform and takes its synthetic tissue scaffold candidates into clinical trials. In connection with the financing, Steven Sands of Galaxy Partners and a representative from JJDC will join the board.
With this funding round, Tempo is entering into the first-ever clinical trials of surgical scaffolds based on MAP technology. And as the sole developer of MAP technology-based tissue scaffolds, Tempo is ready to reach critical development milestones by establishing the safety and effectiveness of its two lead products: TT101 (for complex surgical sites with exposed bone, tendon, or fascia) and TT108 (for fascial incision site reinforcement).
KEY QUOTES:
“At Tempo Therapeutics, we are driven by a commitment to innovation and excellence in the field of regenerative medicine. The successful completion of our Series A financing is a testament to the confidence placed in our vision by our investors. Together, we are poised to unlock new horizons in tissue engineering and redefine what is possible in regenerative medicine.”
– Westbrook Weaver, Founder and CEO of Tempo Therapeutics
“Tempo is at the forefront of transforming medical outcomes through a genuine regenerative medical technology breakthrough. We immediately saw a revolutionary and disruptive technology coupled with a very large market opportunity. Tempo has a platform patented technology that can meaningfully alter the medical outcomes of a significant amount of surgical procedures.”
– Marty Sands of Galaxy Sirius Partners, who led the round
“We were drawn to Tempo’s simple but elegant technology platform, and were impressed by the capability that it has shown in clinically relevant animal studies. Tempo’s ability to transform scarring into healthy stronger native tissue has an unquantifiable number of surgical applications. Tempo is at a pivotal time in their development as they pursue human clinical testing. If the application stimulates growth of native, natural, regenerated tissue instead of weak scar tissue, this is going to generate a great deal of momentum and attention.”
– Marty Sands
“Tempo Therapeutics might be one of the very few platform technologies that, if it is proven to work on humans, can be used in a myriad of surgical procedures and therapeutic areas. This could positively alter patient outcomes across the widest scope of procedures and indications I have ever seen. With a strong set of compelling, clinically relevant animal testing in hand, this round allows Tempo to enter the clinic to generate critical and valuable data. We believe this clinical data will move Tempo significantly along the path to commercializing a revolutionary and game-changing product for a great many surgical procedures.”
– Steven Sands – who will be joining the board on behalf of Galaxy-Sirius Partners
