Carmell Therapeutics, a Pittsburgh, PA-based biotechnology company focused on developing and commercializing regenerative medicine technologies, closed a $4M Series B financing.
Backers included Pittsburgh Life Sciences Greenhouse, Harbor Light Capital, Newlin Investments and BlueTree Capital Group and new investor Keiretsu Forum Capital.
The company will use the funds to advance its first product candidate, Bone Healing Accelerant, to phase III clinical development.
Founded as a spin out from Carnegie Mellon University in Pittsburgh, PA, Carmell is a biotechnology company focused on developing and commercializing regenerative medicine technologies. It has created a patented technology based on biologically-active materials manufactured from human blood plasma. These Plasma-based Bioactive Materials (PBMs) contain a concentration of natural regenerative factors that promote healing in various clinical settings, reduce infections, reduce complications, and, as a result, save healthcare costs. The regenerative materials can be manufactured to fit multiple forms, such as putties, pastes, scaffolds, plugs, screws and sheets.