Theradaptive, Inc., a biopharmaceutical and medical device company headquartered in Frederick, Maryland, has closed a successful $26 million Series A funding round.
According to Theradaptive, this latest funding round brings Theradaptive’ s total funding to over $50 million. In its press release, Theradaptive indicated it will use the funds to advance development of its targeted regenerative therapeutics.
OTW spoke with Theradaptive Vice President of Commercial Development Brian Wong about how the funds will be used. Wong told OTW, “We will use the funds for our human clinical trials for spine and dental as well as scaling up our cGMP facility in Maryland.”
OTW also spoke with Wong about plans for clinical trials for this year. Wong informed OTW, “We plan to initiate our first in human clinical trial for TLIF spinal fusion in 1Q2024. It will be a Phase 2 study with planned enrollment of 65 patients.”
Theradaptive Founder and CEO Luis M. Alvarez, Ph.D. developed the concept for a targeted regenerative platform after serving in Iraq. During that time he observed servicemembers with “extremity injuries that resulted in delayed amputations.” He subsequently researched bone and tissue regeneration which led to Theradaptive’s founding. Per the company’s press release, its “proprietary protein-engineering platform produces targeted therapeutics that can be used to coat implants, devices, and injectable carriers to achieve hyper-local delivery over long time periods exceeding weeks to months.”
Theradaptive Vice President of Operations David Stewart, Ph.D. commented in the press release, “We’re delighted that our investors recognize the potential of the Theradaptive platform across indications, from cancer to orthopedics.”
Dr. Stewart continued, “Support from our partners is essential to continue our work to make existing biologics more precise, persistent, and localized, and thus safer and more effective. Our mission is to offer new treatment possibilities to patients who currently have few options, and this funding will help us achieve this.”
