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Ballast Point, River Cities back human tissue regeneration business TissueTech

22 Aug 2013

TissueTech tissueBallast Point Ventures and River Cities Capital Funds have completed a $10m growth equity financing round for regenerative tissue engineering business TissueTech.

The company said the funding would go towards accelerating its commercial efforts and further R&D across its eye tissue and muscle tissue divisions.

River Cities’ Carter McNabb, who will join the company’s board of directors following the investment, said, “TissueTech’s industry leading position in ophthalmology is a testament to the vision and technology platform developed by the management team.

“We are thrilled to partner with them as the company expands its core eye-care market and brings its leading technologies into orthopedics and wound care.”

Ballast’s Matt Rice added, “We have followed the progress of TissueTech over a number of years, and we have built a great relationship with the team over that period of time.

“What management has accomplished with a limited base of external capital has been very impressive, and we look forward to partnering with them to build a world class regenerative medicine company.”

Earlier this month Amkey Ventures led a $20m Series A round for biopharmaceutical startup Apexigen, which is developing antibody-based drugs for the treatment of life threatening and hard to treat diseases.

WSR Capital, China Development Industrial Bank, Themes Investment Partners, and Sycamore Ventures also participated in the funding round.

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