ATLANTA, Oct. 31 /PRNewswire/ -- Biofisica Inc., an Atlanta, Georgia-based high tech wound care company, announced today that the company has closed on $5 million in Series A Financing. The funds will be used to help launch POSiFECT® RD Bio-Electric Stimulation Therapy, the first of its kind wound care product, in the United Kingdom later this year. Funding will also go toward initial regulatory filings in the U.S., expanding Biofisica’s management team in both the UK and the U.S., as well as growing the company’s product pipeline.
POSiFECT RD (RD refers to the dressing’s round shape) 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. Earlier this month, PosiFect received European marketing clearance and a CE Marking.
“We are very pleased with the solid support from our financial partners as we move forward in the commercialization of this important product in the field of wound care management,” said Rafael Andino, president and CEO of Biofisica. “This funding will help sustain our momentum as we build customer relationships and establish future distribution channels.”
New investor, Unilever Technology Ventures (http://www.unilevertechnologyventures.com) led the round of financing and was joined by the Novartis Venture Fund, the Advanced Technology Development Center (ATDC) Seed Capital Fund and other existing investors.
“We are very pleased to lead this round of investment for Biofisica, a company with an innovative technology platform that provides a potential solution to a growing market need,” commented Dr. Min Berbon of Unilever Technology Ventures. “Biofisica’s products are backed by strong intellectual property and solid clinical evidence for efficacy in healing wounds that did not respond to any other treatment. This round of investment will enable the company to achieve key milestones of a successful product launch in UK and the initiation of its U.S. regulatory process.”
About Unilever Technology Ventures (UTV)
Unilever Technology Ventures (UTV) was formed in 2002 to provide a worldwide window on new technologies that will influence the development of next generation products. From our offices in San Francisco, we actively search for attractive investment opportunities with novel science and technology platforms.
Unilever Technology Ventures or UTV refers collectively to Unilever Technology Ventures Fund BV (the Fund) and Unilever Technology Ventures Advisory Company LLC (UTV Advisory Company). UTV Advisory Company is located in San Francisco, California and provides investment advisory and administrative services to the Fund based in the Netherlands including without limitation, advising the Fund in finding, evaluating, structuring, monitoring and liquidating investments made by the Fund. Although UTV Advisory Company performs investment advisory services on behalf of the Fund, the Fund has the sole authority with respect to all investment decisions and UTV Advisory Company has no authority to bind the Fund. UTV Advisory Company and the Fund are part of the Unilever group of companies. The Fund has been formed to access new technologies that may enhance the scope and quality of the branded goods and services of Unilever and facilitate new opportunities for Unilever.
About Biofisica
Biofisica Inc., (http://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. In addition to launching POSiFECT® RD Bio-Electric Stimulation Therapy in the UK this year, and to other EU countries/regions in subsequent periods, Biofisica will be working with the U.S. FDA to receive proper clearance to market its products in the United States. Currently POSiFECT is not approved for marketing or sale in the U.S.
Source: Biofisica Inc.
