MADISON, Wis.–(BUSINESS WIRE)–September 11, 2014–
Strategic operating capital fund, Wisconsin Investment and Strategic Capital Partners (“WISC Partners“), has made the lead investment in Imbed Biosciences (“IMBED“) in order to advance the development and commercialization of their promising wound healing technology.
WISC Partners LP is a strategic operating capital fund that invests not just capital, but also provides expertise in company building, in business development, and in delivering liquidity events to its selected ventures. Comprised of University of Wisconsin alumni who have built their careers in Silicon Valley, the firm is committed to building wealth for both investors and entrepreneurs in the state of Wisconsin.
“We achieved everything we set out to do in our fund raising process and more,” says Ankit Agarwal, CEO and cofounder of IMBED. “WISC Partners has helped us to identify and now pursue additional applications and opportunities for our wound healing technology. We have already gained far more value than funding alone from our work together. This is a tremendous partnership for us.”
In addition to the investment by WISC Partners, IMBED has also been recently awarded with $1.5 million in funding from the National Institute of Health to further the testing of its unique polymeric nanofilm technology, which is designed for wound healing and surgical applications.
According to David Guinther, a General Partner at WISC Partners, “IMBED has everything that we look for in an investment: a strong team of founders, impressive progress to date, a clear product-market fit, and a product with the potential to become a platform with broad applications. We are very pleased to be working with the remarkable team at IMBED.”
Adds Sanjeev Chitre, also a General Partner at WISC Partners and who is joining the Board of Directors of IMBED, “This technology has the potential to address a wide range of challenges in advanced wound care, and we see additional opportunities within the military, in the veterinarian market, and in international markets. The identification and effective pursuit of these opportunities is part of the value that WISC Partners brings to IMBED.”
About WISC Partners
Our mission at WISC Partners is to create wealth by helping a portfolio of well-chosen entrepreneurs in Wisconsin to build great companies that solve important customer problems. We accomplish this by injecting Strategic Operating Capital into these investments, which couples funding with company building experience, product and market expertise, corporate and business development networks, and highly engaged executive support. We are comprised of University of Wisconsin alumni, with offices in Madison, WI and Milpitas, CA. For more information, please visit www.wiscpartners.com.
About Imbed Biosciences Inc.
Imbed Biosciences is a privately held medical device company, located in Madison, WI, that develops advanced materials for wound healing and surgical applications. It has developed polymeric nanofilms and microfilms for delivering tailored loadings of bioactive molecules on tissue surfaces. Its vision is to develop next-generation surgical devices that can reduce patient pain and overall treatment costs, including antimicrobial dressings for dermal wounds, hernia surgical meshes, barrier films for gastro-intestinal defects, and dural membranes. The company’s first family of products targets the antimicrobial wound dressings market. For more information, please visit www.imbedbio.com.