Gemstone Biotherapeutics Completes Second Funding Round
Baltimore, MD (PRWEB) June 08, 2015 -- Gemstone Biotherapeutics LLC announced the completion of a second funding round that resulted in a capital raise of $1.6 million. Founding investor Gamma 3 LLC led the additional investment, which also included participation from an international healthcare fund. This latest round brings the total seed funding raised to $2.45 million. The additional funding will support further testing, regulatory submittals and initial clinical trials of the company’s biosynthetic scaffold technology. The technology is targeted for the management of a variety of chronic and acute wounds.
Gemstone Bio was founded in 2013 by Gamma 3 LLC, based on technology developed by Dr. Sharon Gerecht and licensed from John Hopkins University, and is dedicated to the field of regenerative medicine. The company’s full patent portfolio includes core technologies that utilize cell engineering methods and biomaterials to promote vascularization, a critical component in advanced tissue repair and regeneration. Gemstone Bio’s initial therapeutic product is a biosynthetic scaffold for advanced wound healing applications. In initial animal testing, the scaffold demonstrated unprecedented results in its ability to heal full-thickness wounds with complete skin regeneration and minimal to no visible scarring after burn trauma.
“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,” said George Davis, CEO of Gemstone Biotherapeutics. “This latest round of funding will enable us to more aggressively pursue major regulatory and clinical milestones. These include securing the human and physical resources needed to achieve our commercialization objectives. The results of recently completed Gemstone Bio-sponsored scientific studies of the scaffold technology provide additional confidence that our solution is on the right track.”
“It is very exciting and rewarding to see the inventions that were originally developed in our labs at Johns Hopkins University have such a clear path to commercial viability and therapeutic application,” said Dr. Sharon Gerecht, associate professor of chemical and biomolecular engineering at the JHU Whiting School of Engineering and co-founder and lead advisor of Gemstone Bio.
For more information on Gemstone Biotherapeutics, visit http://www.gemstonebio.com.
ABOUT GEMSTONE BIOTHERAPEUTICS
Gemstone Biotherapeutics LLC (Gemstone Bio), an award-winning biotechnology company based in Baltimore, is pioneering the field of regenerative medicine. The company’s core technologies utilize cell engineering methods and biomaterials to promote vascularization, a critical component in advanced tissue repair and regeneration. Gemstone is developing these technologies, originally created in laboratories within the Department of Chemical and Biomolecular Engineering at Johns Hopkins University, for advanced therapeutic applications in wound care and other chronic diseases. For more information, visit http://www.gemstonebio.com.
Adrienne Peres, Abel Communications for Gemstone Biotherapeutics, http://www.abelcommunications.com, +1 (443) 869-2197 Ext: 146, [email protected]
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