CAMBRIDGE, Mass., Oct. 28 /PRNewswire-FirstCall/ -- 3DM, Inc., a Cambridge-based developer of synthetic biomaterials, has raised $1.7 million in a first round of venture capital from Technology Directors, Inc., and other investors. The funding will accelerate 3DM's clinical development of its lead product, PuraMatrix(TM) synthetic peptide hydrogels for use in orthopedic applications ranging from bone fill, to spinal fusion, to implant coatings, to drug delivery. The Company has successfully completed pre-clinical safety and efficacy testing of PuraMatrix in animal studies and plans to submit its bone fill indication to the FDA early in 2005. Human clinical trials for other orthopedic applications will occur later in 2005.
The funding comes on the heels of a successful product launch with BD Biosciences, establishing 3DM's PuraMatrix line as an enabling nanotechnology biomaterial for next generation cell culture and in vivo research and bioproduction. Concurrent with the launch, R&D Magazine recently awarded PuraMatrix its 42nd annual R&D 100 Prize as one of the most significant new products to impact life science and medical research, a prestigious award held by the likes of Taxol and the nicotine patch.
"In the last 12 months, 3DM management and its world-class scientific founding team have established PuraMatrix as one of the best-selling synthetic scaffolds for in vitro and in vivo drug discovery research world wide." stated John Maki, Managing Director of Technology Directors Inc. "The combination of BD Bioscience partnership, multiple industry collaborations and 3DM's own aggressive clinical development program promises to establish PuraMatrix as the next standard in biocompatible scaffolds for medical device and drug delivery applications."
The funding adds two experienced venture investors to 3DM's Board of Directors. John Maki, Managing Director of Technology Directors, Inc. and previously an investor with Audax Group and Bain Capital, was founding investor or lead in the re-capitalizations of over 15 companies, including Physio Control, Wesley Jessen Visioncare, Large Scale Biology, and DeNovis, among other companies. Adam Kirsch was a founder and remains a Special Limited Partner of Bain Capital, where he served on the boards of numerous private and public companies including Dade Diagnostics, Blue Ridge Pharmaceuticals, and Nutraceutical International.
"In addition to adding two terrific venture investors to our Board, this funding will accelerate clinical development of PuraMatrix gels as a component of next generation medical implants, enhancing healthy tissue ingrowth and regeneration," said Zen Chu, 3DM's President and co-founder. "In addition to orthopedic device applications, PuraMatrix enhances performance of devices for cardiac, neurological, wound healing and drug delivery applications. 3DM is collaborating with premier medical device companies to demonstrate PuraMatrix's utility across each of these areas."
PuraMatrix Synthetic Peptide Hydrogels are smart polymers, self-assembling in cell culture or in vivo to create biocompatible nanofiber scaffolds to facilitate healthy cell growth and tissue regeneration. PuraMatrix is currently in animal testing for orthopedics, cardiac and other medical device and drug delivery applications. PuraMatrix is used by leading pharmaceutical, biotechnology and academic laboratories and has been featured in over twenty premier scientific journal publications.
About 3DM Inc.
3DM is a privately-held specialty biomaterials and medical device company headquartered in Cambridge, Massachusetts. The patented technology, exclusively licensed from Massachusetts Institute of Technology, was pioneered through the work and expertise of Drs. Shuguang Zhang, Alan Grodzinsky, Robert Langer, Alexander Rich, Carlos Semino and Lisa Spirio.
Zen Chu or Jennifer Gray
President MacDougall BioCommunications