Imbed Expands Series A to $4M

by Brian Lee

Imbed Biosciences logo

Imbed Biosciences announced today that it raised another $2 million in its previously closed Series A funding round, which now totals $4 million.

According to release, the round, which closed with $2 million in April, was reopened because of investor demand.

As previously reported, the funding will be used to commercialize the company’s FDA-cleared MicroLyte Ag Antimicrobial Matrix used for the management of chronic ulcers, burns and surgical wounds.

The round was led by Formidable Asset Management.

Imbed also announced that Jeff Hanson, an experienced financial services industry strategist, will join its board of directors.

“We are … excited to have Mr. Hanson join our Board at this stage of the commercial growth,” CEO Ankit Agarwal, PhD., said in a statement. “He brings invaluable experience and extensive relationship networks in both the biotech and financial industries.”