EternoGen Closes $1 Million Series A Financing
August 30, 2013 • Arch Grant News •
Summer 2013 – Venture-backed EternoGen LLC. announces that its closure on $1.065 million in Series A financing and anticipates a second tranche of up to $500,000 due to significant interest from the investment community. EternoGen is committed to making its platform technology, Nano Engineered Collagen Replenishment Therapy a leader in the rapidly growing regenerative aesthetic market. The company will use the proceeds of the current financing round to conduct human studies as the first step to commercialization in Europe and Asia in 2014, followed by the US. Nano Engineered Collagen Replenishment Therapy is uniquely positioned to expand the aesthetic market for the treatment of aging skin currently addressed by dermal fillers and Botulinum Toxins.
“Our successful financing was a marker, we believe, of our company’s significant progress this year and potential in the near future,” said Luis Jimenez, EternoGen President & CEO. “We look forward to commercializing our aesthetic indication in Europe, and believe that our natural, regenerative approach to skin ageing will expand the entire category by offing a completely unique approach to restoring skin strength.
As we age our body naturally produces less collagen, resulting in aging, sagging skin. Without correction, this inevitably contributes to a reduction in the skin’s elasticity, the development of wrinkles and dermal volume loss.
The most prevalent way to correct signs of aging is through the use of dermal fillers, which are bulking agents of various materials that are injected in the dermal and sub-dermal layers of the skin and botulinum toxins which relax wrinkle forming muscles, both of which are injected by aesthetic physicians. The addressable worldwide market has skyrocketed into a $2 billion dollar industry in the past decade, with an expected growth rate of 12 -15% per year.
Collagen is known to be an optimal biomaterial for aesthetic purposes due to its favorable side effect profile, rapid integration and regeneration of the dermis providing an instant natural lasting. However no collagen options are currently available for aesthetic use. EternoGen will be recognized as the only provider of nano-engineered collagen replenishment therapy, the next generation collagen brand for the global aesthetic market.
Dr. Chris Inglefield, plastic surgeon and director of the world renowned London Bridge Aesthetic and Plastic Surgery Clinic, says: “EternoGen’s collagen technology will perfectly compliment my existing aesthetic options, there is a real need for a long lasting collagen to reinforce the skins support matrix, restoring lost volume, elasticity and overall skin strength”.
EternoGen launches into the commercialization phase by inaugurating three offices: a pilot production facility in Columbia, Missouri; an Operations Head Offices in St. Louis, Missouri; and a Commercial Head Offices in Stockholm, Sweden where it plans to launch to Europe.
Columbia, Missouri -based EternoGen is a medical Bio-Tech company with a focus on designing and manufacturing novel collagen replenishment therapies for soft tissue therapeutic applications. EternoGen is a research and development company that utilizes expertise in clinical market evaluation, material science, and biological engineering to execute its clinical development model.
The mission of the company is to provide superior collagen-based products for a variety of minimally invasive surgical applications by leveraging applied nanotechnology and soft tissue engineering.
For more information, please visit www.eternogen.com
CEO: Luis Jimenez
Company Contact: Anna Tenstam Lundvall