$3.4M raised by biomaterials startup for scaffolds to treat spinal cord injuries

Biologics

Biomaterials startup Spiderwort has closed a $3.4 million seed financing round one year after it secured $500,000 in a friends and family funding round, Betakit reports.

Three things to know:

1. The Ottawa, Canada-based company is in the pre-clinical stage of developing a biomaterial that uses plant-derived cellulose to generate "scaffold architectures" for regenerative medicine.

2. Spiderwort's biomaterials demonstrated promise for the treatment of spinal cord injuries and soft tissue regeneration in pre-clinical trials.

3. The company, which recently moved into a biotechnology research facility in Ottawa, plans to use the funding to reach clinical trials.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Webinars

Featured Whitepapers