Biomaterials startup raises $500K for scaffolds to treat spinal cord injuries

Biologics

Ottawa, Canada-based biomaterials startup Spiderwort closed a $500,000 oversubscribed friends and family funding round, reports BetaKit.

Three insights:

1. Spiderwort is in the pre-clinical stage of developing a biomaterial that uses plant-derived cellulose to generate "scaffold architectures" for regenerative medicine.

2. The company's biomaterials have shown promise in the treatment of spinal cord injuries and soft tissue regeneration in pre-clinical trials.

3. Spiderwort seeks to raise a round of Seed funding, complete further pre-clinical testing and achieve regulatory approvals to move towards commercialization of the technology.

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