TissueTech, Inc. Receives $15 Million in Growth Equity Financing
TissueTech™, Inc., the industry leader in regenerative tissue engineering, announced the completion of a $15 million round of growth equity financing from incumbent investors River Cities Capital Funds and Ballast Point Ventures.
TissueTech offers its portfolio of amniotic membrane and umbilical cord-based tissue and device products through its commercial subsidiaries: Bio-Tissue® Inc., the industry leader in regenerative biologic therapies and ocular hygiene solutions for the treatment of ocular surface diseases and disorders, and Amniox® Medical Inc., a leading provider of regenerative tissue therapies to the musculoskeletal and wound care markets. The funding will accelerate sales, marketing, and further research and development in both divisions.
“Ballast Point and River Cities have been tremendously supportive over the last two years. This additional round of equity funding will further support our commercial and enterprise infrastructure,” says Amy Tseng, TissueTech CEO. Dr. Scheffer Tseng, MD, PhD, TissueTech’s Chairman and Chief Scientific Officer adds: “Additionally, this funding will help support our clinical research and support our efforts to expand our product pipeline with innovative regenerative tissue therapies.”
“TissueTech’s financial and operational performance has been outstanding. They are building the infrastructure to take full advantage of the output from Dr. Tseng’s lab, which is unsurpassed in the industry in terms of breadth of knowledge, NIH funding and an understanding of the science behind this growing field,” says River Cities’ Carter McNabb, a member of the TissueTech Board of Directors.
“We have been very pleased to be in business with TissueTech over the past few years. Dr. Scheffer Tseng, Amy Tseng and the rest of the management team have done a remarkable job building a leading regenerative medicine company here in Florida, and the Series B financing will help further those efforts,” says Matt Rice of Ballast Point Ventures, also a member of the TissueTech Board.