Minnesota-based Miromatrix Medical is seeking $20 million, according to a recent filing with the Securities & Exchange Commission, to help develop and commercialize a biological mesh made of porcine tissue that can help in hernia repair, breast reconstruction and other soft-tissue applications.
Previously the company has raised $6 million in a Series A round. In its quest to bring in $20 million, it has already raised $5 million, the filing shows.
The regenerative medicine company emerged from the University of Minnesota when Doris Taylor, then director of the Center of Cardiovascular Repair, Harold Ott and others stripped a dead rat's heart of its cellular materials and then introduced stem cells in the decellularized matrix to get the heart to beat in the lab after eight days in a bioreactor. The event was widely hailed as a revolutionary development in the field of regenerative medicine.
Currently, Miromatrix's executives are focusing on launching a porcine-tissue based biomesh for hernia repair, breast reconstruction and other soft tissue applications.
The company is expecting to commercialize its hernia repair device in the second half of 2014. While the first product is a biomesh, the company hopes that one day not too far in the future it will be able to create whole organs that can be used in organ transplants.
An email to Rob Cohen, Miromatrix's CEO was not immediately returned.
Here's a look at what is possible, as imagined by Taylor and the University of Minnesota:
[Photo Credit: iStockphoto.com user SaulHerrera]
|Miromatrix Medical is a Minnesota company, and that Midwestern hub of medtech will play host to UBM Canon's medtech conference - MD&M Minneapolis - on Oct. 28-30.|