Fitchburg startup raises $1.6M
Imbed Biosciences, a Fitchburg startup developing Microlyte Ag, an ultra-thin wound dressing material containing very low levels of silver, has raised nearly $1.6 million in a funding round, according to Xconomy Wisconsin.
Eleven investors participated in this funding round, with WISC Partners leading the way.
In 2016, the company received FDA clearance to market the product for human use to treat burns, chronic foot ulcers, and surgical ulcers. Imbed Biosciences hopes to bring it to market this summer.