Early stage wound care company Gel-e said today it raised $3.1 million to support its hemostatic and wound care platform.
The round was led by unnamed early-stage investment funds and life science investors, the College Park, Md.-based company said.
Gel-e said that financing will help support initial FDA clearance for products designed to manage bleeding wounds, including vascular access sites to a “broader hemostatic product line” for treating external wounds.
The company said it aims to produce a “broad range of game-changing hemostatic and wound treatment products,” which include bandages, foams and putties for traumatic and military injuries, and surgical gels and powders. The devices function off the company’s proprietary Vascular Gel-E technology.
“Gel-e exemplifies an ideal investment for us. By strategically deploying grants, gel-e has built an impressive corporate foundation, such as achieving its 1st regulatory clearance, securing an issued patent estate, and recognition through numerous peer-reviewed publications. We are excited to be a part of this financing that supports the next phase in the company’s growth,” UM Ventures director Jim Hughes said in a prepared statement.