LifeSprout Secures $6.5M Seed Funding to Advance Injectable Soft Tissue Regenerative Filler Lumina

VCBeat (WeChat Official Account: vcbeat) has learned that regenerative medicine company LifeSprout recently announced the completion of a $6.5 million seed funding round. This round was led by Kairos VentureInvestments, Triskelion Investments, Maryland Venture Fund, Ginkgo Investment Group, AngelMD, and strategic investor Medytox participated.

As part of this financing round, LifeSprout has appointed Adam Gridley as Executive Chairman of its Board of Directors. A pioneer in the fields of regenerative medicine and aesthetics, Gridley previously led corporate and product development at BioForm Medical, which developed and launched Radiesse, one of the first soft tissue fillers. He subsequently served as Senior Vice President of Product Development and Technical Operations at Merz Pharmaceuticals. Most recently, Gridley was the CEO of a restorative cell therapy company developing biologics for cartilage repair. He joined the LifeSprout Board of Directors in April 2018.

LifeSprout, a private aesthetics and regenerative medicine company spun out of Johns Hopkins University, was founded in Baltimore, Maryland, in 2015. LifeSprout is dedicated to developing next-generation injectable soft tissue repair products, including nanofiber hydrogel dermal fillers and cell drug delivery scaffolds. The financing proceeds will be used for the clinical development and commercial launch of Lumina, the first product based on its Regenerative Matrix (RM) technology platform.

LifeSprout’s regenerative RM technology platform is composed of biomimetic, biocompatible materials that enhance cell adhesion and viability. The RM platform provides a robust foundation for autonomous tissue repair and cell therapy, serving as an ideal vehicle for delivering stem cells and differentiated cells to achieve true tissue regeneration. This platform is the preferred choice for invasive surgical procedures aimed at reconstruction and regeneration, such as fat grafting and free tissue transfer.

Lumina is a revolutionary dermal filler crafted from biocompatible and biodegradable building materials, free from animal- or cell-derived components. Lumina mimics living tissue in both appearance and function, offering natural tactility, elasticity, and resistance to deformation, along with an open porous structure similar to the extracellular matrix.

The safety of Lumina, a hyaluronic acid (HA) filler, has been demonstrated, allowing its application in areas where HA fillers have not previously been used. The biostimulatory properties of Lumina enable it to provide more durable restorative effects while minimizing fibrosis and granuloma formation. Its moldability and reversibility, coupled with a minimal risk of post-procedural swelling, make it beneficial for patients experiencing soft tissue loss due to tumor resection, trauma, or aging.

Eric Goorno, CEO of LifeSprout, stated, “We are grateful for the support of our investors and delighted to welcome Adam to our team. Their backing validates the significant growth potential of our product platform. The RM platform is designed to deliver important new benefits to our patients and physician customers. We are about to initiate pivotal clinical studies for Lumina and advance our product pipeline toward regulatory approval and commercialization.”

Kairos Ventures InvestmentsIt is a venture capital firm that primarily invests in top-tier universities and companies with patented technologies.

Triskelion Capital, headquartered in the United States, is an investment firm focused on business quality and management of capital allocation.

The Maryland Venture Fund, established in 1994, is a $110 million early-stage venture capital fund dedicated to financing and developing the next generation of specialized businesses located in Maryland. The fund invests directly in technology and life sciences companies and indirectly in venture capital funds.

Ginkgo Investment Group, established in 2003, is a leading Chinese private equity firm based in Shenzhen.

AngelMD was founded in Seattle, Washington, in 2013 as a fintech platform connecting healthcare startups with investors, physicians, and the industry.

Medytox is a South Korea-based biopharmaceutical company founded in 2000. Medytox strives to achieve KRW 1 trillion in sales and a market capitalization of KRW 10 trillion, aiming to become one of the top 20 biopharmaceutical companies worldwide by 2022.

(Compiled by: Li Chengping)