Stratatech Corp. won a $4.6 million grant to run a clinical trial from the National Institute of Diabetes & Digestive & Kidney Diseases.
The funds will support the first human study of Stratatech’s ExpressGraft Antimicrobial genetically engineered living skin substitute as a therapy for diabetic foot ulcers.
The product is the first of its kind to fight infections and accelerate wound healing, according to a press release.
ExpressGraft is a living, cell-based tissue with characteristics similar to human skin. It is applied topically to immediately close wounds and is designed to be replaced by the patient’s skin over time. ExpressGraft Antimicrobial incorporates an immune system protein known to play an active role in wound healing in the human body.
"Stratatech will advance its second therapeutic product into clinical testing with this award, bringing us another step closer to the multibillion dollar market for chronic skin ulcer treatments," CEO & chief scientific officer Lynn Allen-Hoffmann said in prepared remarks.
The Madison, Wis.-based company landed a $4 million grant from the U.S. Defense Dept.’s Armed Forces Institute of Regenerative Medicine earlier this month to fund the non-antimicrobial ExpressGraft through a IIb clinical trial.
Here’s a roundup of other dealflow and investment news:
- Continuous glucose monitoring company raises $54.1 million
Sensors for Medicine and Science Inc., a privately held company focused on fully implantable, long-term continuous glucose monitoring system for people with diabetes, announced a $54.1 million Series D equity financing round.
- MiMedx president & CEO Parker Petit loans company $1.5 million
Parker Petit, who serves as president, chairman & CEO for MiMedx Group, loaned the company up to $1.5 million, according to SEC filings.
- CerviLenz closes $8.35 million round
Women’s health company CerviLenz closed a series A funding round with $8.35 million, according to a press release.
- Neuros Medical hopes for $3.5 million
Pain management device maker Neuros Medical Inc. opened a $3.5 million funding round to support a pilot of its pain-relief device, according to MedCity News.
- HyperBranch raises $1 million for brain and spinal sealant
HyperBranch Medical Technologies is just shy of closing its $1.04 million equity financing round, according to SEC filings.