Progenerative Medical said earlier this month it closed a $1.5 million seed round to help support its Regenn Therapy product.
The Regenn Therapy product is a negative-pressure technology intended for use in spine and orthopedic indications, and will be initially applied in spinal fusion procedures, Progenerative Medical said.
The system is based off technology licensed from Kinetic Concepts, the San Antonio, Texas-based company said. First-in-human testing of the Regenn Therapy system is slated to begin later this year.
“Our team now has the resources to continue the translation of our promising technology, which has been proven in extensive preclinical studies, into clinical use. This clinical experience, along with completed product design and well-crafted regulatory and reimbursement strategies, will position Progenerative for a Series A raise in 2019,” co-founder & CEO James Poser said in a prepared statement.
In September 2016, Progenerative Medical said that it inked an exclusive licensing agreement with Acelity subsidiary Kinetic Concepts Inc. for a negative-pressure technology portfolio it aims to develop for spine and general orthopedic procedures.