Sofregen Appoints New CEO and Closes $8 Million Series B Financing to Advance SilkVoice, an FDA-Approved Silk Protein Injection for Vocal Fold Restoration

On December 26, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media that Sofregen, a U.S. biotechnology company specializing in soft tissue engineering, announced the appointment of Jonathan Hartmann as its new Chief Executive Officer and the addition of Philippe Schaison, a veteran of the healthcare industry, to its Board of Directors.

In addition, Sofregen announced that it had completed an $8 million Series B financing round, led by the U.S. venture capital firm Anzu Partners.

Sofregen plans to leverage the funds from this financing round to accelerate the research and development of silk fibroin technology, and to support the commercialization and accessibility of SilkVoice.

Sofregen, founded in 2014 and headquartered in Boston, is a biotechnology company specializing in soft tissue regeneration. Sofregen is dedicated to advancing the development of silk protein-based products from Tufts University and the University of Pittsburgh, aiming to restore function and aesthetic appearance for patients in medical aesthetics and cosmetic procedures worldwide, establishing itself as a pioneer in the field of tissue regeneration.

Silk fibroin is a natural, organic, and predictable biomaterial. SilkVoice is a novel natural silk fibroin injectable developed based on silk fibroin, which was approved by the U.S. FDA this year. SilkVoice is also the only natural protein injectable indicated for tissue regeneration, suitable for central vocal fold defects and vocal fold insufficiency. It can augment the volume of displaced or deformed vocal folds, thereby improving phonation.

Hartmann previously served as CEO of Axsun Technologies and brings decades of successful leadership experience in the medical technology industry. He stated, “This is an exciting time! We have an outstanding team, strong financial backing, and a leading clinical and research platform. We look forward to delivering immediate improvements to patients’ lives with the launch of Silk Voice in 2020. We will also advance clinical science to support the application of our unique silk fibroin materials in medical aesthetics.”

Dr. Schaison, former CEO of Syneron Candela North America and former President of the Aesthetics & Dermatology division at the global pharmaceutical company Allergan, also stated, “Sofregen’s technology platform far surpasses any product currently in development or on the market. I am delighted to join the company’s Board of Directors and help drive its pipeline of new products already in development, including next-generation aesthetic injectables.”

Previously, Sofregen secured Series A financing in September 2016 and September 2019, respectively. In September 2016, the company raised $6.2 million in Series A funding, led by Polaris Partners, to support the research and development of its silk fibroin technology. In September 2019, the company raised $8 million in Series A funding. Sofregen has completed a total of three financing rounds, raising an aggregate of $22.3 million.

Anzu Partners is a venture capital and private equity firm primarily investing in breakthrough industrial technologies. It provides companies with capital and deep expertise in business development, market positioning, global connectivity, and operations to develop and commercialize technological innovations. Anzu manages approximately $350 million in capital and has assembled a strong team of investment professionals, technical experts, and operational support specialists. In 2016, Anzu launched its first fund, Anzu Industrial Capital Partners, to invest in privately held industrial technology companies headquartered in North America. In 2019, it launched its second industrial technology fund, Anzu Industrial Capital Partners II, which follows a similar investment strategy. Anzu’s principals possess over 60 years of combined experience as global industrial investors and advisors, and have established a business support network covering major industrial markets worldwide.

Headquartered in Boston, Polaris Partners has collaborated with renowned entrepreneurs and world-class innovators for over two decades. The multi-billion-dollar firm invests in exceptional healthcare and technology companies across all stages, from inception to profitable growth. Polaris Partners maintains offices in Boston and San Francisco.

(Compiled by Yang Xiaohui)