Biotechnology company SolasCure has completed its £10.9m ($13.3m) Series B investment round.
The funding round was led by Seneca Partners and also included BRAIN Biotech, EVA Pharma, Jonathan Milner, and Wealth Club.
SolasCure’s first investigational product, Aurase Wound Gel, a hydrogel containing an enzyme cloned from medical maggots which aims to accelerate wound debridement, is due to enter further Phase II efficacy-supporting trials.
The next phase of trials will include a larger and more diverse patient group compared to the Phase IIa safety study.
The pre-clinical trial results of SolasCure’s Aurase Wound Gel, published in the International Wound Journal, showed preliminary evidence that supports its new enzymatic debridement product for use in chronic wounds.
The enzyme is shown to have a good safety profile, both locally and systemically. SolasCure recently completed its CLEANVLU proof-of-concept first-in-human Phase IIa safety study examining the use of Aurase Wound Gel in chronic venous leg ulcer subjects.
Dr Sam Bakri, Founder and CEO, SolasCure, said: “We would like to thank investors in our Series B round for continuing to support us as we progress our clinical development programme and focus on developing the efficacy of Aurase Wound Gel. We are excited to be working with such an experienced team, whose specialist knowledge is greatly valued in our mission to support healthcare professionals with wound care products that significantly improve outcomes for patients with chronic wounds.”
SolasCure was founded in 2017 as a spin-off from BRAIN Biotech, a German company focused on harnessing biological diversity to develop innovative solutions.