Business Wire09.19.16
Sofregen Medical Inc. (Sofregen), a company pioneering silk-based medical technologies to address soft tissue defects, has secured $6.2 million in Series A financing from Polaris Partners and other founding investors that previously seeded the company. Founded in 2014 to advance technology developed at Tufts University and the University of Pittsburgh, Sofregen has a variety of silk-based innovations currently in development and will use the funding to further its platform.
“The opportunities to use silk as the foundational material in repairing soft tissue are extremely promising,” said Howard Weisman, chairman of Sofregen. “Silk fiber has been proven to be strong, flexible and biocompatible in a wide variety of surgical procedures. With this technology, we will be providing better solutions for physicians and greater hope for patients.”
The company, which has previously raised $1.6 million from seed investors, has also agreed to terms on $3.5 million in bank debt financing, bringing total funding to $11.3 million.
“We are excited about Sofregen’s vision of building a platform of silk-based products that address some of the most sensitive medical and aesthetic needs of millions of patients worldwide,” said Polaris Partner, Amir Nashat, Ph.D., and member of the Sofregen board. “We are delighted to work with a partner such as Howard Weisman again, and his team is well-positioned to translate this science into a market reality.”
Founded in 2014 to advance technology developed at Tufts University and the University of Pittsburgh, Sofregen is developing technology to use silk, nature’s healing fiber, in a variety of forms to help physicians address soft tissue defects.
Polaris Partners invests in technology and healthcare companies across all stages of their life cycles. With offices in Boston, Mass.; San Francisco, Calif.; and Dublin, Ireland; Polaris partners globally with an unparalleled network of repeat entrepreneurs, scientists and emerging innovators who are making significant contributions in their fields and improving the way in which people live and work.
“The opportunities to use silk as the foundational material in repairing soft tissue are extremely promising,” said Howard Weisman, chairman of Sofregen. “Silk fiber has been proven to be strong, flexible and biocompatible in a wide variety of surgical procedures. With this technology, we will be providing better solutions for physicians and greater hope for patients.”
The company, which has previously raised $1.6 million from seed investors, has also agreed to terms on $3.5 million in bank debt financing, bringing total funding to $11.3 million.
“We are excited about Sofregen’s vision of building a platform of silk-based products that address some of the most sensitive medical and aesthetic needs of millions of patients worldwide,” said Polaris Partner, Amir Nashat, Ph.D., and member of the Sofregen board. “We are delighted to work with a partner such as Howard Weisman again, and his team is well-positioned to translate this science into a market reality.”
Founded in 2014 to advance technology developed at Tufts University and the University of Pittsburgh, Sofregen is developing technology to use silk, nature’s healing fiber, in a variety of forms to help physicians address soft tissue defects.
Polaris Partners invests in technology and healthcare companies across all stages of their life cycles. With offices in Boston, Mass.; San Francisco, Calif.; and Dublin, Ireland; Polaris partners globally with an unparalleled network of repeat entrepreneurs, scientists and emerging innovators who are making significant contributions in their fields and improving the way in which people live and work.