Johns Hopkins spinout LifeSprout recently closed on $6.5 million in funding as it looks to bring soft tissue replacement technology to market, according to CEO Sashank Reddy.
The investment round was led by Medytox Investments, Kairos Ventures, Triskelion Capital and TEDCO.
Founded by Russell Martin, Hai-Quan Mao, Justin Sacks and Reddy, the company is developing a synthetic material that can be used to regrow soft tissue within the body. As we previously reported, the material provides space for the body to regenerate its own tissue over time. Down the road, the company believes it can be used to reconstruct parts of the body after trauma or disease, as we reported.
The company previously received funding from the Abell Foundation and a separate TEDCO grant, as well as winning competitions like the Johnson and Johnson QuickFire Challenge, and the Association of University Technology Managers competition. Those awards helped with technological development, and eventually led to the institutional round, Reddy said. It also moved into the FastForward 1812 near Johns Hopkins Hospital in East Baltimore.
Now the company is looking to move forward with its initial product, which can be used for aesthetic enhancements to the face. The company wants to release a product that feels and performs naturally. Reddy said the funding will help as the company seeks regulatory guidance, and moves toward human trials.-30-
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