Spiderwort is an Ottawa-based biotech company developing plant-derived, cellulose-based tissue scaffolding to treat acute spinal cord injuries. Its proprietary biomaterials received a Breakthrough Device Designation from the U.S. Food and Drug Administration. The company is developing two core products: CelluBridge, a cellulose-based biomaterial to promote spinal cord repair and regeneration; and CelluJuve, a cellulose-based dermal filler for injury recovery and cosmetic enhancement. Spiderwort plans to use the proceeds from its Series A to support the transition from pre-clinical studies to clinical trials for its biomaterial. The company is led by CEO Charles M. Cuerrier and CSO Dr. Andrew E. Pelling. It raised USD13.2M in Series A funding to advance those development and regulatory efforts. Spiderwort is an Ottawa-based healthtech and biomaterials startup developing plant-derived cellulose biomaterials that form scaffold architectures for regenerative medicine. Its lead product is in the pre-clinical stage and has shown potential in treating spinal cord injuries and soft tissue regeneration in pre-clinical trials. The company was spun out of the University of Ottawa and is led by CEO Charles Cuerrier, inspired by the work of TED Fellow Andrew Pelling. Spiderwort recently moved into a new facility in the University of Ottawa STEM building and is participating in the Creative Destruction Lab Health stream in Vancouver. Financially, the company closed an oversubscribed $500,000 CAD friends-and-family round and has previously received funding from the Ontario Brain Institute, the Ontario Centres of Excellence, and Invest Ottawa. It added new advisory board members including Dane Bedward and Peter Morand. Spiderwort plans to raise a Seed round, conduct further pre-clinical testing, and pursue regulatory approvals to move toward commercialization.

Total raised

$14M

Funding rounds

2

Latest round

Series A

Latest activity

Jul 2022