WINSTON-SALEM – Keranetics, based in Winston-Salem, which recently merged with Microchips Biotech of Lexingt0n, Mass., has raised $2.1 million of an combined equity and debt round targeted at $2.45 million, according to an SEC filing.
The combined company, Keratin Biosciences, will operate in both locations focused on regenerative medicine and drug delivery therapies based on a purified human-derived keratin technology platform. It is developing products to promote regenerative healing of complex tissue injuries, burns, skin wounds and conditions.
Keratin is a tough, natural constituent of skin and hair that serves as a natural barrier. The new company plans to harness keratin’s unique qualities to produce first-in-class treatments while developing regenerative therapies for muscle, nerve, and bone. It will also seek to develop keratin as a multi-modal drug delivery agent.
In addition to raising $17 million in equity and $1.9 million in debt since 2008, the company has received more than $14 million in grants.
Keranetics has FDA 510(k) clearance to market KeraStat, a novel topical dressing for advanced wound care.