Spiderwort Secures USD13.2M in Series A Funding
Summary
The company intends to use the funds to support the transition from pre-clinical studies to the clinical trials that are critical to bringing its biomaterial to market. Led by CEO Charles M. Cuerrier, and CSO Dr. Andrew E. Pelling, Spiderwort is a biotech company innovating in cellulose-based tissue scaffolding to treat acute spinal cord injuries. Spiderwort, whose innovative biomaterials received a “Breakthrough Device Designation” by the U.S. Food and Drug Administration (FDA), uses plant-derived scaffolding to create a structure for real tissue to grow. The company has two core products currently under development: • CelluBridge™ is a proprietary cellulose-based biomaterial that promotes the repair and regeneration of the spinal cord. • CelluJuve™ is a cellulose-based dermal filler that can address different patient use cases including injury recovery and cosmetic enhancement.