Investment will support expanded clinical trials of TRUE Graft, establish a commercial GMP manufacturing facility, and further develop the TRUE Tissue platform technology for additional products.
Vascudyne, Inc., a biotechnology trailblazer in regenerative medicine, announced today that it has raised $10 million Series A cash financing through a global group of investors.
In July, Vascudyne also announced the successful first human use of TRUE™ Graft for hemodialysis access in end-stage renal disease patients. Vascudyne’s early product development and preclinical studies were funded by angel investors. Since incorporation, Vascudyne transferred the regenerative technology, vertically integrated manufacturing, and launched TRUE Graft’s first human use clinical trial.
Vascudyne’s TRUE to Nature™ biomaterials are unique and 100% natural. While other regenerative medicine cardiovascular devices contain synthetic polymer-based scaffolds that slowly degrade in the body and may lead to adverse immune response, Vascudyne’s TRUE™ Tissue technology is 100% biological: nothing synthetic or artificial is ever used in the manufacturing process.
“We are thrilled that investors share our passion for bringing our TRUE Tissue platform technology to patients worldwide,” shared Rick Murphy, VP of Operations and GM of Vascudyne. “We are scaling up our GMP manufacturing facility to support the expansion of the clinical safety study of our TRUE Graft for hemodialysis access and accelerate new products towards clinical use that are currently in development for multiple cardiovascular applications.”
“Closing the Series A finance round is a very exciting milestone for Vascudyne,” said Kem Schankereli, Chief Executive Officer of Vascudyne. “We are gaining momentum and paving the way to being able to supply our TRUE Tissue regenerative material technology to patients in need. The Series A funding provides the needed support to grow the organization so we can continue our clinical trials, expand operations, and translate additional products using our TRUE technology platform from pre-clinical to clinical trials.”
Vascudyne licensed its proprietary TRUE Tissue technology developed by world renowned tissue engineering leader Robert Tranquillo, PhD, Distinguished McKnight University Professor, and his colleagues from the University of Minnesota in 2017.
The TRUE Graft is not available for commercial sale.
Headquartered in the heart of Medical Alley in Minnesota, Vascudyne is on a mission to improve patient care with regenerative biomaterials that are inspired by nature. Vascudyne, a privately held company founded in 2014, uses the TRUE™ Tissue technology to develop TRUE to Nature™ biomaterials for soft tissue repair and replacement. For more information, please visit https://www.vascudyne.com/.
About TRUE Tissue Technology
TRUE™ Tissue is developed from cells isolated from donor tissue and is 100% biological. There are no synthetic materials or chemical fixation used, and implanted tissues are completely cell-derived and acellular. The TRUE Tissue technology can be readily shaped into tubes, sheets, and other geometries making it suitable for many soft tissue applications, is mechanically comparable to native tissues, and is a ready to use, off-the-shelf allograft.
Forward Looking Statements
This announcement contains forward-looking statements. Such statements may include, without limitation, statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. These statements relate to future events or Vascudyne’s clinical development programs, reflect management’s current beliefs and expectations and involve known and unknown risks, uncertainties and other factors that may cause Vascudyne’s actual results, performance or achievements to be materially different. Vascudyne undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future presentations or otherwise, except as required by applicable law.
Sandy Williams, Marketing Director