Ankasa Regenerative Therapeutics received $8.5 million in the first portion of a $17 million Series A round of financing round.
Here are five things to know:
1. The financing round is being led by Avalon Ventures.
2. Ankasa is focusing on the development of the stem cell growth factor WNT3A, which is found in humans and helps maintain bone growth and repair.
3. The company intends to initially develop a proprietary localized therapy involving WNT3A for spinal fusion surgery patients.
4. If approved for commercial use, the stem cell growth factor could serve as an alternative to the protein BMP-2.
5. The company also intends to study the use of WNT3A in additional bone and tissue repair applications.