BALTIMORE, Md., April 27, 2020 /PRNewswire/ -- LifeSprout, a privately-held regenerative medicine company founded with technology licensed from Johns Hopkins University, has closed a $28.5 million Series A financing. The company is using proceeds to support clinical development of novel therapeutic products from its Regenerative Matrix platform.
The financing was led by Redmile Group, LLC, with new institutional investors Nexus Management, LP, Emerald Development Managers, LP, and the Abell Foundation joining the syndicate.
"We are delighted to complement the lead investment from Redmile with a strong cadre of Maryland-based and international investors," stated Sashank Reddy, MD, PhD, co-founder of LifeSprout. "The early, visionary investments made by the Maryland Stem Cell Research Fund and others made this new financing possible."
LifeSprout's proprietary Regenerative Matrix platform comprises biomimetic, biocompatible materials engineered to look and feel like natural tissue. The first product from this platform – Lumina™ – is a next-generation aesthetic filler that combines the proven safety of hyaluronic acid with biostimulatory effects. The company is developing additional cell therapy products designed to offer regenerative solutions, including treatments for patients with orphan diseases.
"Cell therapies are among the most promising new modalities in medicine, yet they are limited by challenges of cell viability, delivery, and therapeutic dosing," noted Dr. Reddy. "By encouraging cell survival and natural tissue integration, the Regenerative Matrix may enhance traditional cell therapy approaches."
"Since closing our Seed round of financing last year, we are developing a compelling suite of products for patients with aesthetic and reconstructive needs," said Adam Gridley, Executive Chairman of LifeSprout. "We're thankful for the strong leadership of the investment syndicate in this Series A financing, and we look forward to partnering with our investors, scientific advisors, and collaborators to bring these solutions to patients."
LifeSprout, Inc. is a privately held company developing revolutionary products for aesthetic and regenerative medicine. The company's Regenerative Matrix platform leverages advances in materials science to create products that look and feel like the body's own tissues. LifeSprout is turning this technology into a suite of products for the millions of patients with tissue losses from aging, cancer, metabolic disease, and orphan indications. The company's lead product Lumina™ is a breakthrough family of aesthetic fillers enabling immediate, natural restoration with biostimulatory effects. LifeSprout's next generation cell therapy products use the power of the platform to promote true tissue regeneration. To learn more visit https://www.lifesproutbio.com/.