Alafair Biosciences Secures $7.2M Series B Funding to Advance Proprietary Hydrogel Technology for Post-Surgical Wound Care

VCBeat (WeChat Official Account: vcbeat) has learned that medical device company Alafair Biosciences recently announced it had oversubscribed its $7.2 million Series B financing round. The investors were not disclosed. The proceeds from this round will primarily be used for two purposes: first, to accelerate the commercialization of the company’s proprietary VersaWrap tendon protector; and second, to develop other products related to hydrogel technology, including a hydrogel designed to separate and protect adjacent tissue surfaces.

Alafair Biosciences was founded in Austin, Texas, in 2011 and is dedicated to developing novel product portfolios based on its proprietary hydrogel technology. The company has developed cross-linked polysaccharide hydrogel films for the prevention of post-surgical wound adhesions. Alafair Biosciences focuses on the development of membranes for anti-adhesion, wound care, and tissue reconstruction, as well as injectable gel solutions.

VersaWrap is an ultra-thin, suture-free, bioresorbable hydrogel that protects tendon gliding and interfascicular healing by forming a gel layer between injured tendons and surrounding soft tissues. The VersaWrap Tendon Protector is a bioresorbable implant (device) used at the interface between tendons or tendon sheaths and surrounding tissues, providing a non-constrictive protective wrap for injured tendons.

VersaWrap Tendon Protector consists of a bioabsorbable hydrogel sheet and a wetting solution. The transparent, bioabsorbable hydrogel sheet is composed of alginate polysaccharides and hyaluronic acid, and contains no animal-derived components. This hydrogel sheet is flexible and ultra-thin, and can be cut to size. Healthcare professionals implant the hydrogel sheet in either a moist or dry state, depending on the patient’s condition, positioning it on or around the tendon to be repaired. The VersaWrap solution is applied to the surface of the film to maintain conformity with the underlying tissue and ensure tissue adhesion, thereby promoting tendon gliding while protecting the tendon from unwanted scar tissue adherence. The VersaWrap Tendon Protector imparts conformability and tissue adhesiveness to the VersaWrap sheet, eliminating the need for sutures or tissue adhesives.

How to Use the VersaWrap Tendon Protector (Image from Official Website)

VersaWrap Tendon Protector can be used for any surgical procedure without significant tendon tissue injury. Its applications mainly include: tendon or tendon sheath suturing, tenodesis, tendon lengthening, reattached tendons, and flexor or finger extensor tenodesis.

Notably, the VersaWrap Tendon Protector received FDA 510(k) clearance in 2016, making it the first product in the VersaWrap series to obtain such approval.

Greg Brophy, CEO of Alafair Biosciences, stated, “We are delighted that this offering was oversubscribed, which will accelerate Alafair’s next phase of growth. VersaWrap provides a novel solution for tendon injuries. By forming a permeable gel layer around the tendon, VersaWrap facilitates tendon gliding during the healing cascade. This layer reduces surface-to-surface friction, thereby helping to mitigate postoperative inflammation, which is commonly observed. With a portfolio of 15 issued and 13 pending patents covering a broad range of clinical applications, we are well-positioned to build a robust product line based on hydrogel technology.”

(Compiled by Li Chengping)