Gemstone Biotherapeutics, a Baltimore company developing treatments to promote wound healing, has raised $2.45 million in a seed round of investment, company officials said.
The company plans to use the money to further test its technologies and pursue regulatory review and clinical trials. It is developing biosynthetic “scaffold” technology that has shown in animal tests it can help skin regenerate and prevent scarring when applied to burn wounds.
The technology was developed by Sharon Gerecht, an associate professor of bioengineering at Johns Hopkins University, and has been licensed from the university.
Gamma 3 LLC, Gemstone’s founding investor, led a recent investment of $1.6 million that completed the seed round of fundraising. An international health care fund also participated, Gemstone officials said.
“The potential to revolutionize the wound care industry is incredibly exciting for our investors, our industry and, most significantly, for patients with chronic and acute wounds,” Gemstone CEO George Davis said in a statement. “This latest round of funding will enable us to more aggressively pursue major regulatory and clinical milestones.”
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