Israel Society for Wound Treatment Red dress today announced the closing of a $26 million Series D funding round with participation from ATHOS Biopharma GmbH and other life sciences investors, including HCS Capital’s Investors Group and the Ragnar Crossover Fund. The latest investment round brings the total amount raised by RedDress to $43 million.
RedDress has developed a personalized, autologous wound management solution created from patients’ own blood. The new funds will be used to promote increased adoption of the company’s product, establish global partnerships and expand RedDress’ proprietary blood-based technology to treat more conditions.
RedDress has pioneered a patented blood-based technology to treat chronic wounds that has almost no risk of rejection and is much more cost effective. Its ActiGraft family of products is an autologous point-of-care wound management solution that creates, in real time, an in vitro blood clot from the patient’s whole blood. Once applied to the wound, the blood clot triggers the healing process, serves as a protective covering and optimizes the healing potential of the body. The ActiGraft family of products can be used for a wide variety of chronic wounds including diabetic and neuropathic ulcers, venous ulcers, pressure sores, traumatic wounds, post-surgical wounds, skin tears, surgical wounds, and more.
RedDress Founder and CEO Alon Kushnir said, “Cure is in our blood, and we are grateful for the continued support of our investors as we advance our mission to provide healthcare providers with an effective solution to treat chronic and complex wounds with an innovative system that harnesses the power of the patient’s blood. This latest funding round further validates the efficacy and strong commercial performance of the ActiGraft system and provides us with critical resources to expand our care solutions autologous blood-based wounds so that we can continue to develop new innovations in other areas of health.”
Since RedDress received FDA clearance and CE Mark in 2020, ActiGraft has helped over 6,000 patients in the United States and 30 other countries.
Published by Globes, Israel business news – en.globes.co.il – May 24, 2023.
© Copyright Globes Publisher Itonut (1983) Ltd., 2023.