TissueTech Inc successfully closed its latest fundraising round. The Florida-based regenerative tissue engineering company said that Ballast Point Ventures and River Cities Capital Funds invested USD 10 million for the company's growth equity round. TissueTech said it would use the proceeds to speed up its marketing efforts. It would also use the funds for the research and development of its commercial entities, BioTissue and Amniox Medical. BioTissue provides regenerative tissue therapies for diseases in ocular surfaces while Amniox Medical caters to the musculoskeletal and wound care segments.
TissueTech Chairman and Chief Scientific Officer Dr. Scheffer Tseng said, "This growth equity financing is a significant achievement, serving as an endorsement of both the Company's management team and technology platforms, as well as a strong validation of our core business strategies."
As part of the transaction, Carter McNabb of River Cities Capital Funds and Matt Rice of Ballast Point Ventures would both be joining the Board of Directors at TissueTech.
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