PITTSBURGH, July 11, 2017 /PRNewswire/ — Carmell Therapeutics, a biotechnology company focused on developing and commercializing regenerative medicine technologies, announced today that on June 30, 2017 it closed a $4M Series B financing that will be used to advance its first product candidate, Bone Healing Accelerant, to phase III clinical development. Carmell received strong support from current investors, Pittsburgh Life Sciences Greenhouse, Harbor Light Capital, Newlin Investments and BlueTree Capital Group and welcomed new investor Keiretsu Forum Capital. This will be the first of many products and indications based on its core technology Plasma-based Bioactive Material (PBM). The PBM technology was developed at Carnegie Mellon University and utilizes pooled plasma to create products which accelerate the healing of both bone and soft tissues. The technology offers the unique benefit of controlling the timing of the release of a broad range of growth and healing factors to the injury site.
Carmell is a biotechnology company focused on developing and commercializing regenerative medicine technologies. Founded as a spin out from Carnegie Mellon University in Pittsburgh, PA, Carmell Therapeutics has created a unique & highly innovative patented technology based on biologically-active materials manufactured from human blood plasma. These Plasma-based Bioactive Materials (PBMs) contain a concentration of natural regenerative factors that promote healing in various clinical settings, reduce infections, reduce complications, and, as a result, save healthcare costs. Unlike previous approaches to delivering growth factors to injuries/surgeries, Carmell has patented the capability to achieve three important technological breakthroughs: form, presence and bioactivity.
- The regenerative materials can be manufactured to fit multiple forms, such as putties, pastes, scaffolds, plugs, screws and sheets.
- Presence is created by cross linking the proteins as part of the manufacturing process to breakdown in the body over different periods of time (days, weeks or months).
- As the regenerative biomaterial (PBM) biodegrades at the local site, active biologics are released where and when the body needs them to accelerate healing.
Some of the statements in this release are “forward looking statements,” which involve known and unknown risks and uncertainties. These statements are only predictions. Carmell makes no representation, warranty or claim regarding its products or any information in this release. Actual results may vary significantly from our predictions and depend on known and unknown factors, including, without limitation, the outcome of our plans to conduct additional human clinical studies to prove the safety and efficacy of our products.
Contact:
Randy Hubbell
rhubbell@carmellrx.com
(215) 688-6196
SOURCE Carmell Therapeutics Corporation