TissueTech, Inc., a Miami, FL-based regenerative medicine company utilizing human umbilical cord and amniotic membrane, closed an $82.25m in Series C equity financing.
The round was led by EW Healthcare Partners (formerly Essex Woodlands) with continuous investments from Ballast Point Ventures. As part of the transaction, Martin Sutter, Managing Director and Co-Founder of EW, and William “Bill” A. Hawkins, III, Senior Advisor at EW and former Chairman and CEO of Medtronic, have joined TissueTech’s Board of Directors. Matt Rice, who is a partner of Ballast Point Ventures healthcare practice, will continue to serve as a Board member, while John Arnott, a global healthcare executive, will continue to serve as an independent member of the Board.
The company intends to use the funds to pursue regulatory approvals from the FDA for several of its development projects to comply with the agency’s new guidance documents and support ongoing commercial development. A part of the funds will be used to liquidate a previous preferred investor and recapitalize some common shareholdings.
Founded in 1997 by Amy Tseng, Chief Executive Officer, TissueTech, Inc., the parent company of Amniox Medical, Inc. and BioTissue, Inc., pioneered the development and clinical application of human placental tissue-based products. Founded in 1997, Bio-Tissue markets products for the ophthalmology and optometry markets; and Amniox markets products for use in the musculoskeletal and wound care markets. Clinicians have performed more than 500,000 human implants with the company’s products and published more than 300 peer-reviewed studies supporting its technology platform. The company’s first product, AmnioGraft®, is the only tissue graft designated by the FDA as homologous use for promoting ophthalmic wound healing.