Indianapolis, Ind. (March 29, 2023) – GeniPhys, developer of a polymerizable collagen known as Collymer, announced it has raised a $6 million Series A round to support activities required to launch its initial product into the market, expand its team, and invest in manufacturing and regulatory capabilities. Pier 70 Ventures and Elevate Ventures participated in the round, along with multiple individual investors.
Collymer represents a patented, highly purified form of collagen that self-assembles (polymerizes) to form stable, fibrillar collagen scaffolds. Collymer materials have been extensively tested in preclinical models, repeatedly demonstrating the ability to provide long-lasting, non-inflammatory environments that support site appropriate tissue generation. As a biopolymer, Collymer can be designed and fabricated into materials with a variety of shapes, architectures, and mechanical properties, providing tremendous flexibility. Collymer addresses unmet needs across a variety of potential markets, such as wound management, surgical reconstruction, orthopedics, cardiovascular, ENT (ears, nose & throat), and therapeutic cell and drug delivery.
“Collymer represents a paradigm shift in how we think about healing and regenerative medicine. We are grateful to this group of investors that share our vision and commitment to improving patient care,” said Andrew Eibling, GeniPhys President & CEO.
Shaun Hawkins, Managing Partner at Pier 70 Ventures and new member of the GeniPhys Board of Directors stated, “This technology brings an innovative “regenerative surgical reconstruction” solution that is non-inflammatory, non-immune stimulating and fully customizable to meet both patients’ and surgeons’ needs.”
GeniPhys was founded by Sherry Harbin, PhD, Professor of Biomedical Engineering at Purdue University. “Elevate is impressed by the complementary skills in the leadership team critical for a start-up’s success,” said Kristin Eilenberg, Entrepreneur-in-Residence for Elevate Ventures. “Dr. Harbin is an acclaimed scientific pioneer in this field. Andrew is a successful entrepreneur and executive with experience in developing and commercializing innovative therapeutics and medical devices. This combination of talent and leadership is unparalleled.”
GeniPhys also announced the addition of John DeFord, PhD to its Board of Directors. Dr. DeFord has over 30 years of experience as a global medical technology executive, most recently as the executive vice president and chief technology officer for Becton, Dickinson and Company (BD) (BDX). Prior to BD, Dr. DeFord had leadership roles at a variety of organizations including C.R. Bard and Cook Incorporated.
Original story here.
About GeniPhys
GeniPhys is an early-stage medical technology company located in Zionsville, Indiana, focused on empowering tissue regeneration and restoration. The company’s Collymer technology is based on research conducted in Sherry Harbin’s lab at Purdue University. Materials prepared from the proprietary collagen polymer promote tissue integration and generation while avoiding inflammation, fibrosis and scarring. The manufacturing process of Collymer allows the fabrication of multiple implantable material formats and has demonstrated the ability to deliver pharmaceutical and cell-based therapies. www.geniphys.com
About Pier 70 Ventures
Pier 70 Ventures is focused on a differentiated investment strategy that drives financial returns, supports diverse entrepreneurs and employees, and provides local impact to communities. Learn more at www.pier70ventures.com.
About Elevate Ventures
Elevate Ventures is the #1 most active seed and early-stage investor in the Great Lakes region and is #24 in the United States. The firm assists high-growth startups and early-stage companies expand into high-performing companies. Elevate has invested over $150 million in more than 500 companies. To learn more about Elevate Ventures, visit elevateventures.com.
