The Medford, Mass.-based soft-tissue aesthetics company opened the offering August 16, 2019, attracting three investors who purchased $8.1 million of its shares. Sofregen did not disclose how it plans to use the proceeds.
In January, the early-stage commercial biotech company announced that it received FDA 510(k) clearance for its Silk Voice kit designed to use the solubilized silk protein scaffold and a single-use catheter delivery system to augment vocal fold tissue for phonation improvement.
Vocal fold paralysis and glottic insufficiency affect many people who lose partial or complete use of their voice due to trauma, surgery, diseases or aging. A recent survey of U.S.-based physicians revealed that only 3% of patients who have this condition are actively treated, indicating a large unmet medical need, according to the company.