In Pennsylvania, Carmell Therapeutics, a biotechnology company focused on developing and commercializing regenerative medicine technologies, closed $4M in Series B financing to advance its first product candidate, Bone Healing Accelerant, to phase III clinical development. Bone Healing Accelerant will be the first of Carmell’s products based on its innovative core technology Plasma-based Bioactive Material (PBM), biologically-active materials manufactured from human blood plasma. The PBM technology products help accelerate the healing of both bone and soft tissues. As the regenerative biomaterial biodegrades at the local site, active biologics are released where and when the body needs them to accelerate healing, making it smart medicine.
Investors included Pittsburgh Life Sciences Greenhouse, Harbor Light Capital, Newlin Investments, BlueTree Capital Group, and Keiretsu Forum Capital.