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Tissue regeneration biotech InCytu Inc. has boosted its April financing round from $2.77 million to $3.25 million, according to federal documents.
The Lincoln, R.I.-based startup is focused on growing new blood vessels, ligaments and hard tissue. It is planning on applications in the areas of oral care and the healing of diabetic foot ulcers. In 2008, InCytu took second place on Babson College’s Douglass Foundation Graduate Business Plan Competition.
InCytu is based on the Cellarium platform technology first developed by David Mooney of Harvard University. Cellarium uses pre-programmed polymers for local delivery of cells and factors so that the cells integrate naturally into damaged or deficient tissues, according to the company’s website.
The documents filed with the U.S. Food and Drug Administration list Mooney as a director of the company. Also serving on the board of InCytu is Rick Berenson, managing director of Venzyme Venture Catalyst of Newton, which lists InCytu as a client on its website.
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