Via: STR
Soft Tissue Regeneration, Inc. Announces Financing and Appoints New Members to Board of Directors
NEW HAVEN, Conn. – Jan. 6, 2014 – Soft Tissue Regeneration, Inc. (“STR”), a developer of regenerative
orthopedic devices for tendon and ligament repair, today announced the completion of a financing and the
addition of three new members to the company’s board of directors. The $5 million financing commitment will
permit STR to complete its European Phase I clinical study and continue the FDA regulatory process for the
Company’s L-C Ligament®, a bioresorbable, implantable scaffold for the repair and regeneration of an injured
or torn anterior cruciate ligament (“ACL”). In conjunction with this financing, Dane Miller, Ph.D., Charles Hart,
Ph.D., and Richard Emmitt are joining the STR board of directors, offering deep industry expertise in medical
devices and investments.
Current investors, Connecticut Innovations and Launch Capital, led the $5 million financing and Dane Miller and
The Vertical Group also participated. The financing allows STR to complete its 15-patient Phase I clinical study
of the L-C Ligament in Europe, which enrolled the first patient in June, 2013, in The Netherlands. The financing
will also support STR’s continued regulatory and clinical activities with the United States Food and Drug
Administration (FDA) in preparation for a global pivotal clinical trial. The first tranche of STR’s $5 million
financing closed on Nov. 19, 2013.
Read More: http://softtissueregeneration.com/wp-content/uploads/2013/05/1.6.14-STR-News-Release_FINAL.pdf
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