Selsym Biotech
Overview
SelSym Biotech Inc., founded in 2019, is a pioneering biotechnology company focused on developing synthetic platelet technologies to manage hemorrhage and enhance wound healing. Co-founded by academic researchers from North Carolina State University, Georgia Tech, and the University of Virginia, the company is headquartered in Raleigh, North Carolina. Their flagship product, SymClot, is designed to address unmet clinical needs related to bleeding control in both traumatic and surgical scenarios. As of the recent funding round announcements, SelSym Biotech has successfully raised significant grants and is involved in ongoing research collaborations.
Recent Developments
- April 2024: SelSym Biotech achieves significant milestones in preclinical testing of their synthetic platelet technology, SymClot. Research findings published in Science Translational Medicine show that their platelet-like particles (PLPs) are effective in preventing bleeding without adverse effects in animal models, including mice, rats, and pigs.
- March 2024: The company initiates a seed funding round of $5 million, paving the way for a subsequent $20 million series A round. This funding aims to support progression to clinical trials.
- February 2024: SelSym Biotech receives $3 million in Phase II STTR funding from the National Institutes of Health, emphasizing their strategic focus on translating laboratory results to clinical applications.
- January 2024: A collaboration agreement is announced with researchers at Haima Therapeutics to explore combined applications of their synthetic platelets, leveraging a $2.75 million grant from the Department of Defense.
- December 2023: SymClot's potential as a frontrunner in bleeding management is highlighted at major biotech conferences, with focus on its utility in emergency and remote health care settings due to ease of storage and transport.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2019 |
| Headquarters | Raleigh, North Carolina, USA |
| Founders | Ashley Brown, Andrew Lyon, Tom Barker |
| Revenue | N/A |
| Profits | N/A |
| Key Investors | National Institutes of Health, Department of Defense |
| Industry | Biotechnology |
| Number of Employees | 2-10 |
Early History
SelSym Biotech was conceived out of a collaborative effort among researchers at NC State, Georgia Tech, and the University of Virginia, keen to address the critical demand for improved bleeding control methods. Recognizing the limitations of natural platelet transfusions due to their short shelf life and storage requirements, the founding team spearheaded the development of synthetic platelet analogs. This innovation, named SymClot, utilizes hydrogel-based particles to mimic the function of natural platelets, promising longer shelf life and easier logistics.
Company Profile and Achievements
SelSym Biotech employs a unique approach to treating hemorrhage by using synthetic hydrogels that emulate platelet function, known as PLPs. This technology is scalable, allowing mass production that aligns with global health needs. Major achievements include:
- Development of PLPs that safely and efficiently stop bleeding in preclinical models.
- Receipt of over $3 million in federal grants to support product development.
- Successful preparation for Investigational New Drug (IND) applications to the FDA, setting the stage for human clinical trials.
- Recognition for the potential impact on military and civilian emergency medicine, supported by collaborations with leading research institutions and defense agencies.
Current Operations and Market Position
SelSym Biotech continues to refine its synthetic platelet technology, with a focus on achieving FDA approval for clinical use. The company is strategically positioned within the biotechnology sector to address a multi-billion-dollar market for bleeding management solutions. SelSym’s competitive advantage lies in its innovative biomimetic approach, offering a potential substitute for natural platelet transfusions that can save lives in critical care settings.
Conclusion
SelSym Biotech stands at the forefront of bleeding management innovation with its synthetic platelet technology, SymClot. As the company moves toward clinical trials, its impact on healthcare, particularly in trauma medicine and surgical procedures, could be transformative. The focus on scalability and viability demonstrates a strong potential to meet global demands, placing SelSym in a promising position within the biotech industry. The company's journey reflects a commitment to breakthrough science with the promise of far-reaching medical advancements.