Surgical sealant developer HyperBranch Medical Technology is raising $1M as the company moves forward on a clinical development of a sealant for use in neurosurgery.
The Durham company has raised $500,000 in the effort so far in debt, options, warrants and rights, according to a securities filing. In January, privately-held HyperBranch announced it had completed patient enrollment in its clinical trial of the Adherus Dural Sealant. The study would compare the HyperBranch sealant to another sealant approved for neurosurgery.
HyperBranch said that data from the four-month study would be submitted to the Food and Drug Administration for its premarket approval submission.
The company also said in January that it has received FDA approval to start a clinical trial of the Adherus Dural Sealant in spinal applications.
HyperBranch has developed surgical sealants based on its synthetic hydrogel technology. The biodegradable sealants break down slowly as the tissue heals. HyperBranch’s technology of adhering tissues to prevent leakage is based on chemistry research originally developed at Duke University.
