A Madison biotechnology company is applying $10 million in recently raised capital to build out its manufacturing capacity for its product – therapeutics that repair human tissue.
Vascugen Inc., founded in 2017, is developing regenerative medicines based on technology developed at Indiana University. The technology being licensed from IU repairs human tissue damaged by reduced blood flow due to disease or injury. The core intellectual property being used was developed by Dr. Mervin Yoder, a Vascugen founder and IU distinguished professor emeritus.
The Yoder lab at IU was the first to discover rare cells that are responsible for the formation of new blood vessels in the body and to then develop methods for manufacturing those cells, according to the university.
Six investors, who were not identified, participated in the equity offering, which first opened in 2019, according to a recent filing with the U.S. Securities and Exchange Commission.