Carmell Therapeutics, a spinout from Carnegie Mellon University in Pittsburgh, develops regenerative-medicine technologies based on patented Plasma-based Bioactive Materials (PBMs) manufactured from human blood plasma. Its PBMs concentrate natural regenerative factors to promote healing, reduce infections and complications, and can be formed into putties, pastes, scaffolds, plugs, screws and sheets. The company’s lead product candidate is Bone Healing Accelerant. Carmell closed a $4M Series B to advance that candidate into phase III clinical development. The company positions its technology to save healthcare costs by improving healing across multiple clinical settings. Carmell Therapeutics develops biologically active plastics made from blood plasma intended to promote healing of bone and connective tissue. Its first product is an arthroscopically placed surgical scaffold placed between bone and tendon to treat rotator cuff and tendon injuries; the scaffold deteriorates over four to six weeks while delivering the body’s growth and regenerative factors. The company is also developing a bone putty as a second product. Carmell plans to use the recent Series A proceeds to set up a manufacturing facility and collect data for a pilot study and hopes a successful pilot will support a larger Series B to fund a clinical trial and pursue federal regulatory clearance. The company disclosed an equity first close of $3 million in an SEC filing and said it will accept additional investments to round out the round; nine investors participated. Carmell was founded in 2007 to commercialize technology developed by Carnegie Mellon University and Allegheny General Hospital and is based in Pittsburgh; CEO Alan West previously served as a Boston Scientific vice president of R&D.

Total raised

$7M

Funding rounds

2

Latest round

Series B

Latest activity

Jul 2017