Progenerative Medical Closes Seed Funding
Progenerative Medical to use funding to complete development of reduced pressure therapies for the spine and general orthopedics
SAN ANTONIO, August 8, 2018 (Newswire.com) - San Antonio-based Progenerative Medical Inc. has closed a $1.5 million seed round led by a group of area investors. The funding will enable Progenerative to complete development and initiate clinical evaluation of its first product, Regenn™ Therapy.
Progenerative was founded in 2015 by three former employees of Kinetic Concepts Inc. (KCI). In 2016, the company entered into a technology licensing agreement with KCI for the exclusive, worldwide rights to KCI’s extensive intellectual property and preclinical product development portfolio for application of reduced pressure therapy in spine and orthopedic indications.
Regenn™ Therapy will initially be applied in spinal fusion procedures. The product has the potential to significantly improve clinical outcomes and patient satisfaction in these and other orthopedic surgeries.
“Our team now has the resources to continue the translation of our promising technology, which has been proven in extensive preclinical studies, into clinical use,” said James Poser, Ph.D., CEO and co-founder of Progenerative Medical Inc.
The company expects to initiate first-in-human clinical evaluation of Regenn™ Therapy later this year. Dr. Poser continues, “This clinical experience, along with completed product design and well-crafted regulatory and reimbursement strategies, will position Progenerative for a Series A raise in 2019.”
For more information, contact:
James Poser, Ph.D., CEO
Progenerative Medical Inc.
P.O. Box 5366
San Antonio, TX 78201
c: +1 844 977 6436
Source: Progenerative Medical Inc.