Imbed Biosciences Nets $10 Million in Financing Round

Niterra has partaken in a $10 million convertible debt financing for Imbed Biosciences Inc. (Imbed), a tissue engineering company developing advanced biomaterials for soft-tissue repair. Niterra made the investment through a CVC fund jointly operated with Pegasus Tech Ventures.

Existing investors also participated in the funding round.
 
Imbed has developed the world’s first and only fully-synthetic and antimicrobial wound matrix made of biocompatible polymers, which is cleared by the U.S. Food and Drug Administration (FDA) for several use indications, including managing burns, skin grafts, chronic, and surgical wounds. The antimicrobial matrix provides a healing environment conducive to tissue growth and suppresses microbe and biofilm growth. Published prospective human clinical trials have shown the matrix’s use helped jumpstart healing in stagnant or deteriorating chronic wounds with suspected persistent microbial colonization, leading to a faster recovery with less chance of infection and improving patient outcomes.
 
“People with slow-healing wounds are at high risk of infection, leading to secondary medical complications, including sepsis or amputation,” Imbed Biosciences Co-Founder/Chief Scientific and Quality Officer Ankit Agarwal, PhD, said. “We have developed the first fully-synthetic and antimicrobial wound matrix based on our patented Microlyte technology that has been shown to drastically reduce healing time of such deteriorating wounds. It is now stocked on the formulary of several large hospital systems across the U.S. More than 100,000 units of Microlyte Matrix were used in complex wounds over the last 12 months, reassuring it as the emerging preferred choice of physicians. This investment allows us to accelerate our commercial growth while also advancing our solutions to help more people.”
 
The global advanced wound care market is projected to reach $18.7 billion by 2027 and chronic wounds impact 5.7 million people in the United States. With this latest round of financing, Imbed Biosciences will further establish its position as a developer of advanced devices for managing burns, wounds, and soft-tissue repair. The funds will be used to scale commercial operations, advance innovation, and increase sales channels.
 
“Niterra is focused on investing in solutions that improve the quality of life for everybody,” Niterra Ventures Company President Dirk Schapeler stated. “Wound care has traditionally been expensive with a high risk of complications and has been ripe for innovation. We believe that Imbed Biosciences is redefining wound care and are excited to partner with Dr. Agarwal and his team to further improve patient quality of life.”
 
Imbed is a privately held commercial growth stage biotech company registered with the FDA as a medical device manufacturer with an ISO 13485 certified quality management system. The company’s products on the market and in development combat local pain and infections in complex wounds using its patented Microlyte Matrix technology platform. 
 
Niterra is creating new businesses in Health, Energy & Environment, and Mobility. As a part of its effort in Healthcare, Niterra is investing in technology detecting and assessing cardiology, oncology, neurology and hypertension conditions. Founded in Nagoya, Japan, in 1936, Niterra Co. Ltd. (formerly NGK Spark Plug Co., Ltd.) is renowned for its NGK-branded spark plugs and NTK-branded ceramic products. Niterra was introduced in April 2023 to express the reborn company’s commitment to sustainability through an evolving portfolio focused on ceramics and beyond. The company’s consolidated revenues in fiscal 2022 (ended March 31, 2023) totaled 562.6 billion yen ($4.16 billion). Niterra has 33 bases in Japan, 59 overseas, and more than 16,000 employees worldwide. 
 
Pegasus Tech Ventures is a global venture capital firm based in Silicon Valley, offering intellectual and financial capital to emerging technology companies worldwide. In addition to a more traditional investment approach, Pegasus offers a unique Venture Capital-as-a-Service (VCaaS) model for large, global corporations that wish to partner with cutting-edge technology startups. Pegasus’ global corporate network includes global Fortune 500 companies and other reputable multinational corporations across various industries, such as consumer electronics, automotive, original design manufacturing, gaming, systems integration, health, and pharmaceuticals.