Fort Collins, CO, Nov. 30, 2023 (GLOBE NEWSWIRE) — Innosphere Ventures Fund is thrilled to announce a significant follow-on investment in GelSana, a groundbreaking company in the advanced wound care industry. GelSana has secured $3.1M to date in both dilutive and non-dilutive funding for its innovative hydrogel technology.
The purpose of this funding is to propel GelSana’s groundbreaking hydrogel technology, with its first product, Cleragel, towards FDA registration and early clinical use. Unlike existing wound dressings, GelSana’s patented hydrogel technology creates an anti-inflammatory environment and offers sustained drug delivery, reducing the need for repeated applications and making wound care more efficient and cost-effective.
In this funding round, Innosphere Ventures Fund led the way as the lead investor, with Mines Venture Fund also participating significantly. This investment marks a pivotal moment in GelSana’s journey to disrupt the advanced wound care market, which currently consists of competitors such as 3M, Smith+Nephew, Coloplast, and Cardinal Health.
What sets GelSana apart from its competitors is its revolutionary hydrogel technology, comprised of materials that promote anti-inflammatory effects and which are capable of controlled drug delivery. Additionally, GelSana’s elastic hydrogels have the unique ability to stretch and self-heal, making them ideal for various wound care applications.
GelSana’s CEO, Melissa Krebs, expressed her enthusiasm, stating, “With the support of our investors, we are thrilled to be able to push our first product towards the clinical market and provide a much-needed solution for difficult-to-heal wounds.”
GelSana has already made significant strides in its journey, including licensing IP from the Colorado School of Mines, completing key animal studies demonstrating the superior capability of their hydrogel to heal diabetic wounds, and securing multiple grants and awards for their innovative work.
About Innosphere Ventures Fund: Innosphere Ventures Fund is a venture capital fund leading early-stage investments for companies who are driving innovation in the B2B SaaS Software, Cleantech, and Medtech sectors. The Fund’s general partners have extensive operator knowledge and industry experience. Our team is small, fully integrated, and impact-oriented to produce successful results. We bring more than just capital; we bring differentiated domain knowledge and access to our expert partners from across the globe. Innosphere Ventures Fund has a strong foundation built on its successful first fund and its leading accelerator program, which has operated for over two decades. Learn more at www.innospherefund.com.