Business Briefs: Imbed Biosciences Extends Series A Financing to $4M
December 14 2019
Imbed Biosciences Inc., a privately held biotech company emerging as a leader in the development of advanced therapies for burns, chronic ulcers and surgical wounds, has closed its Series A Preferred Stock equity financing, which was expanded to $4 million due to investor demand. The funding will be used to commercialize the company’s FDA-cleared Microlyte Matrix wound dressing indicated for the management of chronic ulcers, burns, and surgical wounds. Microlyte Matrix is an ultrathin bandage made with bioresorbable polymers and a patented antimicrobial silver nanotechnology.