Biofisica Inc. Secures $2 Million in Financing from Leader Ventures
Published: Aug 08, 2007
ATLANTA, Aug. 8 /PRNewswire/ -- Biofisica Inc., an Atlanta, Georgia-based innovator in wound care therapy, today announced the company has obtained $2 million in venture debt financing from Leader Ventures. Biofisica plans to use the funds for working capital and operational expenses related to its pioneering wound care product, POSiFECT(R) Bio-Electric Stimulation Therapy. The product was launched in early 2007 and is now being marketed and sold in the United Kingdom.
"We are pleased that Leader Ventures has chosen to support our business model as we move forward with this important product in the field of wound care management," said Rafael Andino, president and CEO of Biofisica. "This new infusion of capital supports our efforts to establish POSiFECT as a premier product in the wound care market and demonstrates Biofisica's ability to attract high caliber investment partners."
POSiFECT is the first medical device available that combines two technologies - moist wound-care dressing and electrical stimulation - in a fully disposable, easy-to-use, sterile dressing that facilitates the normal healing process. Clinical research has shown that POSiFECT accelerates healing in difficult to heal or non-healing chronic wounds.
Biofisica, which received CE Mark approval in late 2006, is also pursuing a listing on the UK's Drug Tariff, and has filed an application for 510(k) approval with the FDA to receive clearance to market its products in the United States. The product is not yet available in the U.S.
"The depth and experience of Biofisica's team combined with the compelling value proposition of its ground-breaking wound care portfolio has positioned the company to become a leader in this market," said Jim Bratton, managing director of Leader Ventures. "Biofisica has the potential to improve the quality of daily life for millions of people around the world and we are excited to be a part of that opportunity."
Leader Ventures (www.leaderventures.com) is a private investment firm providing blended debt and equity financing to a diversified portfolio of early- and late-stage, private companies.
With offices in Atlanta, Boston, Menlo Park and San Francisco, the firm invests primarily in the U.S. and employs a variety of loan structures to invest in companies of different developmental stages and across industry segments.
Biofisica Inc., (www.biofisica.com) is a high tech wound care company that was founded in Atlanta, Georgia (USA) in 2000 to develop new solutions within the tissue engineering market to specifically address chronic wound healing. The company also has offices in the United Kingdom. Biofisica was named as one of Georgia's top 40 technology companies in 2006 by the Technology Association of Georgia.
Biofisica's wound care technology is uniquely positioned to provide chronic wound solutions to the wound care market - a global market that is estimated in excess of $12 billion.Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070808/CLW014LOGOAP Archive: http://photoarchive.ap.orgAP PhotoExpress Network: PRN3PRN Photo Desk, firstname.lastname@example.orgBiofisica Inc.
CONTACT: Rafael Andino of Biofisica Inc., +1-404-920-0711, email@example.com, or Jan McClure, +1-770-559-1016, firstname.lastname@example.org, for Biofisica Inc.