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WISC Partners Makes Lead Investment in Imbed Biosciences

VentureBeat

WISC Partners Makes Lead Investment in Imbed Biosciences

 Madison, Wisconsin (September 11, 2014)  –  Strategic operating capital fund, Wisconsin Investment and Strategic Capital Partners (“WISC Partners”), has made the lead investment in Imbed Biosciences (“IMBED”) in order to advance the development and commercialization of their promising wound healing technology.

WISC Partners LP is a strategic operating capital fund that invests not just capital, but also provides expertise in company building, in business development, and in delivering liquidity events to its selected ventures. Comprised of University of Wisconsin alumni who have built their careers in Silicon Valley, the firm is committed to building wealth for both investors and entrepreneurs in the state of Wisconsin.

“We achieved everything we set out to do in our fund raising process and more”, says Ankit Agarwal, CEO and cofounder of IMBED. “WISC Partners has helped us to identify and now pursue additional applications and opportunities for our wound healing technology. We have already gained far more value than funding alone from our work together. This is a tremendous partnership for us.”

In addition to the investment by WISC Partners, IMBED has also been recently awarded with $1.5 million in funding from the National Institute of Health to further the testing of its unique polymeric nanofilm technology, which is designed for wound healing and surgical applications.

According to David Guinther, a General Partner at WISC Partners, “IMBED has everything that we look for in an investment: a strong team of founders, impressive progress to date, a clear product-market fit, and a product with the potential to become a platform with broad applications. We are very pleased to be working with the remarkable team at IMBED.”

Adds Sanjeev Chitre, also a General Partner at WISC Partners and who is joining the Board of Directors of IMBED, “This technology has the potential to address a wide range of challenges in advanced wound care, and we see additional opportunities within the military, in the veterinarian market, and in international markets. The identification and effective pursuit of these opportunities is part of the value that WISC Partners brings to IMBED.”

 

About WISC Partners

Our mission at WISC Partners is to create wealth by helping a portfolio of well-chosen entrepreneurs in Wisconsin to build great companies that solve important customer problems. We accomplish this by injecting Strategic Operating Capital into these investments, which couples funding with company building experience, product and market expertise, corporate and business development networks, and highly engaged executive support. We are comprised of University of Wisconsin alumni, with offices in Madison, WI and Milpitas, CA.For more information, please visit www.wiscpartners.com.

 

About Imbed Biosciences Inc.

Imbed Biosciences is a privately held medical device company, located in Madison, WI, that develops advanced materials for wound healing and surgical applications. It has developed polymeric nanofilms and microfilms for delivering tailored loadings of bioactive molecules on tissue surfaces. Its vision is to develop next-generation surgical devices that can reduce patient pain and overall treatment costs, including antimicrobial dressings for dermal wounds, hernia surgical meshes, barrier films for gastro-intestinal defects, and dural membranes. The company’s first family of products targets the antimicrobial wound dressings market. For more information, please visit www.imbedbio.com.

 

CONTACT INFORMATION

David Guinther, General Partner, WISC Partners
david@wiscpartners.com

 

Ankit Agarwal, CEO, Imbed Biosciences Inc.
ankit@imbedbio.com
Phone: 515-708-1330

 

NIH Awards Imbed Bio a $1.5M Grant to Develop Advanced Wound Healing Nanofilm

VentureBeat

NIH Awards Imbed Bio a $1.5M Grant to Develop Advanced Wound Healing Nanofilm

Madison, WI (July 28, 2014)– Imbed Biosciences, Inc, a medical device company developing advanced materials for wound healing and surgical applications, announced today that it has been awarded a $1.5M competitive Small Business Innovation Research (SBIR) Phase II grant from National Institute for Arthritis and Musculoskeletal and Skin Diseases (NIAMS), a division of National Institutes of Health (NIH).

Ankit Agarwal, PhD, Founder/CEO of Imbed and the Principal Investigator on the grant, said, “this award supports our ongoing investment to develop unique polymeric nanofilm dressings containing silver nanoparticles. The dressing would allow closure of hard-to-heal burns and chronic wounds without infection or silver toxicity”. In Phase I, company validated the feasibility of employing these ultrathin conformal wound dressings in contaminated wounds in mice, which expedited wound closure by reducing bacterial colonization.

“It a very competitive award, which validates the uniqueness of this polymeric nanofilm technology. A significant merit is that the concept is adaptable to delivery of a wide range of bioactive molecules on tissue surfaces, providing a broadly applicable healthcare materials platform”, said co-founder Nicholas Abbott, PhD, Professor in Department of Chemical and Biological Engineering at University of Wisconsin-Madison.

“This next-generation wound dressing will be applicable at the onset of any wound treatment plan without silver toxicity. The nanofilm dressing dissolves in wound over time, potentially reducing painful dressing changes”, said co-founder Prof. Michael Schurr, MD, burn and trauma surgeon in School of Medicine at University of Colorado, Denver.

With this funding, Imbed plans to begin testing the nanofilm dressing in pigs. “Clinical data from porcine wounds will be used to obtain regulatory clearance for human clinical trials”, said co-founder Prof. Jonathan McAnulty, DVM, PhD, leading porcine studies as a part of this grant in School of Veterinary Medicine at University of Wisconsin-Madison.

“Wound healing research is an important component of the NIAMS portfolio. It is part of an effort to reduce the impact of human skin wounds on public health and the economy. This SBIR Phase II award to Imbed Bio reflects our commitment to meet this public need,” said Dr. Hung Tseng, Program Director of the Skin Repair, Regeneration and Pigmentation Program in the Division of Skin and Rheumatic Diseases at the NIAMS.

“We have a team of renowned experts in surface engineering, microbiology and surgical sciences committed to bring this wound healing nanofilm technology into clinics”, said Agarwal.

 

About Imbed Biosciences:

Imbed Biosciences Inc. is a privately held medical device company located in Madison, WI. Company has patent-pending technologies on polymeric nanofilms and microfilms for delivering tailored loadings of bioactive molecules on tissue surfaces. Company’s vision is to develop next-generation surgical devices that can reduce patient pain and overall treatment costs, including antimicrobial dressings for dermal wounds, hernia surgical meshes, barrier films for gastro-intestinal defects, and dural membranes. For more information, visit http://www.imbedbio.com.

Contact Information:

Ankit Agarwal, CEO

ankit@imbedbio.com

NSF Awards Imbed Bio a $150K Grant to Develop Antibiofilm Wound Dressings Containing Silver and Gallium

NSF Awards Imbed Bio a $150K Grant to Develop Antibiofilm Wound Dressings Containing Silver and Gallium

Madison, WI (Jan 1, 2014)– Imbed Biosciences, Inc. announced today that it has been awarded a $150K competitive Small Business Innovation Research (SBIR) Phase I grant from National Science Foundation (NSF). During the 6-month project titled, “Antimicrobial and antibiofilm microfilm wound dressings”, the company will develop micrometer-thick polymeric wound dressings that contain antibiofilm agent gallium and antimicrobial agent silver, and investigate their synergistic effect against microbial proliferation.

Ankit Agarwal, PhD, Founder/CEO of Imbed and the Principal Investigator on the grant, said, “we are very excited to receive this NSF award as validation of our innovative technology to develop unique antibiofilm wound dressings and the market demand for improved formulations to prevent wound infections in burns and chronic ulcers. These funds will support our ongoing investment in company’s patent-pending technology and personnel to bring unique microfilm wound dressings into clinics”.

The company is collaborating with Prof. Charles J. Czuprysnki, PhD in the Department of Pathobiology at School of Veterinary Medicine, University of Wisconsin-Madison. Antimicrobial experiments will be conducted in BSL-2 certified laboratories of Prof. Czuprynski as part of a subcontract under this award.

Successful completion of this Phase 1 project will provide microfilm dressings suitable for tests in porcine wounds in Phase II, required for regulatory clearance for their use in human patients. “Emerging fundamental concepts of managing wound surface infections would be generalizable to various clinical procedures where microbial colonization is a serious problem, such as hernia surgeries or gastro-intestinal defects, promising a broad clinical, social and economic impact”, said Agarwal.

About Imbed Biosciences:

Imbed Biosciences Inc. is a privately held medical device company located in Madison, WI, developing advanced materials for wound healing and surgical applications. Company has patent-pending technologies on polymeric nanofilms and microfilms for delivering tailored loadings bioactive molecules on tissue surfaces. Company’s vision is to develop next-generation surgical devices that can reduce patient pain and overall treatment costs, including antimicrobial dressings for dermal wounds, hernia surgical meshes, barrier films for gastro-intestinal defects, and dural membranes. Company’s first family of products is targeted for the $1.5B global antimicrobial wound dressings market. For more information, visit http://www.imbedbio.com.

Contact Information:

Ankit Agarwal, President and CEO

ankit@imbedbio.com