Spiderwort, a startup developing cellulose-based tissue scaffolding to treat acute spinal cord injuries, has secured $13.2 million through a series A financing round, the company said July 12.
The investment will support the transition of the company's biomaterial products from pre-clinical studies to clinical trials.
Spiderwort's biomaterials, which hve received a breakthrough device designation by the FDA, use plant-derived scaffolding to create a structure for tissue to grow. The company is developing two core products:
- CelluBridge is a cellulose-based biomaterial that promotes the repair and regeneration of the spinal cord
- CelluJuve is a cellulose-based dermal filler designed to address different patient use cases including injury recovery and cosmetic enhancement
"The results in the lab are very encouraging," Andrew Pelling, PhD, chief scientific officer at Spiderwort, said in the news release. "Spiderwort was founded on asking big questions and taking big risks and that work is now paying off. We're looking forward to moving our innovations to the clinic and improving the quality of life of people around the world."