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

Alan Condon -   Print  |

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.

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