SINC Fund Invests in NeXtGen Biologics

The SINC Fund, a venture capital fund sponsored by SAGES Ingenuity Inc., and Varia Ventures Management Company LLC have invested in NeXtGen Biologics Inc. Details about the investment were not released. 

NeXtGen Biologics owns a suite of patents encompassing extracellular matrix (ECM) platform solutions designed to treat and better manage numerous complex conditions seen in wounds, general surgery, trauma, plastic surgery, cardiovascular diseases, neurosurgery, orthopedics and ophthalmology. 

“FDA clearance of NeoMatrix Wound Matrix, and coverage by Medicare representing more than 65 million lives are important milestones propelling NeXtGen in providing physicians with a novel platform solution for patients who suffer from a wide variety of wounds,” NeXtGen Biologics’ CEO Jonelle Toothman said.

“The SINC Fund is excited to invest into a company that harnesses the potential of the Axolotl, with its associated regenerative abilities, and what it brings to the (OR) table,” said S.D. Schwaitzberg, M.D., chair of the SINC Fund Investment Committee. 

The SINC Fund was launched to give SAGES members and others the opportunity to diversify their portfolios by investing in a venture fund with a portfolio of startups primarily in the therapeutic GI/GI surgery space. NeXtGen Biologics is the second investment for the SINC Fund, with several additional investments pending upon completion of due diligence. The SINC Fund is still open to investors, with a fund closing date targeted for August. 

The Society of American Gastrointestinal and Endoscopic Surgeons (SAGES) is a leading surgical society representing a global community of more than 7,000 surgeons bringing minimal access surgery and emerging techniques to patients worldwide. SAGES mission is to innovate, educate and collaborate to improve patient care with a vision of reimagining surgical care.

SAGES Ingenuity Inc. is a for-profit entity formed to invest in and accelerate innovation.    

Varia is a venture capital firm that partners globally recognized thought leaders, prestigious medical and surgical societies, and others to manage venture funds in their fields of expertise.

Each year, approximately 12 million U.S. patients suffer traumatic lacerations, and 250 million people worldwide undergo surgical incisions. Chronic wounds affect 6.5 million people in the United States, often leading to scarring, adhesions, incomplete healing, and infection. Despite technological advancements, surgical and chronic wounds remain problematic, with no product achieving scar-free healing. NeXtGen is exploring the axolotl’s regenerative abilities to develop the NeoMatriX Wound MatriX, which received U.S. Food and Drug Administration clearance in 2018 and 2021. NeoMatriX shows promising results in treating difficult-to-heal wounds and is available in various forms, with Medicare coverage in multiple healthcare settings.

References
Block, et all Adv. Wound Care Oct 1; 4, 607–614 (2015) 
Sen, et all Wound Repair Regen. 2009; 17(6): 763-771
http://sitn.hms.harvard.edu/flash/2018/regeneration-axolotl-can-teach-us-regrowing-human-limbs/
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