Stratatech Corp., a Madison, Wis.-based regenerative medicine company focused on the commercialization of cell-based, tissue-engineered skin substitute products, has closed a $3.0m round of funding comprised of convertible notes.
The funding was secured from current investors in the company.
The proceeds will be used to advance the clinical trial of the company’s StrataGraft® living human skin substitute tissue.
The company expects to begin Phase IIb of the trial during the second half of 2010, which goal is to assess the efficacy of StrataGraft® tissue in the healing of severe burns and wounds that otherwise would require multiple skin grafting.
The successful completion of Phase IIb would move the company closer to regulatory submission, approval and commercialization of the product.