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Niterra Leads $10M Growth Funding Round for Imbed Biosciences

Niterra Leads $10M Growth Funding Round for Imbed Biosciences

January 8, 2024 Craig Etkin

Round will fuel growth, cementing Imbed’s position as a leader in advanced wound care

January 08, 2024 08:02 AM Eastern Standard Time

SANTA CLARA, Calif.–(BUSINESS WIRE)–Niterra today announced its participation in the $10M convertible debt financing for Imbed Biosciences, Inc. (Imbed), a tissue engineering company developing advanced biomaterials for soft-tissue repair. Niterra’s investment was made through the CVC fund jointly operated with Pegasus Tech Ventures and this round included strong participation from existing investors.

“Wound care has traditionally been expensive with a high risk of complications and has been ripe for innovation. We believe that Imbed Biosciences is redefining wound care and are excited to partner with Dr. Agarwal and his team to further improve patient quality of life.”Post this

Imbed has developed the world’s first and only fully-synthetic and antimicrobial wound matrix made of biocompatible polymers, which is FDA cleared for several use indications, including management of burns, skin grafts, chronic and surgical wounds. The antimicrobial matrix provides a healing environment conducive to tissue growth and suppresses the growth of microbes and biofilms. Published prospective human clinical trials have shown that inclusion of the matrix in the protocols of care helped jump start healing of stagnant or deteriorating chronic wounds that were suspected of persistent microbial colonization, leading to a faster recovery with less chance of infection, improving patient outcomes.

“People with slow-healing wounds are at high risk of infection, leading to secondary medical complications, including sepsis or amputation,” said Ankit Agarwal, PhD, co-founder and chief scientific and quality officer for Imbed Biosciences. “We have developed the first fully-synthetic and antimicrobial wound matrix based on our patented Microlyte® technology that has been shown to drastically reduce healing time of such deteriorating wounds. It is now stocked on the formulary of several large hospital systems across the U.S. More than a hundred thousand units of Microlyte® Matrix were used in complex wounds over the last twelve months, reassuring it as the emerging preferred choice of physicians. This investment allows us to accelerate our commercial growth while also advancing our solutions to help more people.”

The global advanced wound care market is projected to reach $18.7 billion by 2027 and chronic wounds impact 5.7M people in the United States. With this latest round of financing, Imbed Biosciences will further establish its position as the leading developer of advanced devices for the management of burns, wounds and soft-tissue repair. The funds will be used to scale commercial operations, advance innovation, and increase sales channels.

“Niterra is focused on investing in solutions that improve the quality of life for everybody,” said Dirk Schapeler, president of Niterra Ventures Company. “Wound care has traditionally been expensive with a high risk of complications and has been ripe for innovation. We believe that Imbed Biosciences is redefining wound care and are excited to partner with Dr. Agarwal and his team to further improve patient quality of life.”

In the “2030 Long-Term Management Plan NITTOKU BX,” Niterra has set out the transformation of their business portfolio to increase the ratio of the businesses not related to the internal combustion engine, and as one of the measures to realize it, Niterra is promoting the creation of new businesses in the areas of Health, Energy & Environment, and Mobility. As a part of their effort in Healthcare, Niterra is investing in technology detecting and assessing cardiology, oncology, neurology and hypertension conditions.

About Imbed Biosciences

Imbed is a privately held commercial growth stage biotech company registered with FDA as a medical device manufacturer with an ISO 13485 certified quality management system. The company has a portfolio of products on the market and in development to combat local pain and infections in complex wounds using its patented Microlyte® Matrix technology platform. For more information, visit www.imbedbio.com.

About Niterra

Founded in Nagoya, Japan in 1936, Niterra Co., Ltd. (formerly NGK Spark Plug Co., Ltd.) is renowned for its NGK-branded spark plugs and NTK-branded ceramic products. Niterra, a coined word combining the Latin words “niteo” (shine) and “terra” (Earth), was introduced in April 2023 to express the reborn company’s commitment to sustainability through an evolving portfolio focused on ceramics and beyond. Under the corporate message “IGNITE YOUR SPIRIT,” Niterra is now expanding into the growth fields of mobility, healthcare, environment and energy, and communications. The company’s consolidated revenues in fiscal 2022 (to March 2023) totaled 562.6 billion yen (4,167 million USD). Niterra has 33 bases in Japan and 59 overseas, and more than 16,000 employees worldwide. Please visit https://www.ngkntk.co.jp/english.

About Pegasus Tech Ventures

Pegasus Tech Ventures is a global venture capital firm based in Silicon Valley, offering intellectual and financial capital to exceptional emerging technology companies around the world. In addition to a more traditional investment approach, Pegasus offers a unique Venture Capital-as-a-Service (VCaaS) model for large, global corporations that wish to partner with cutting-edge technology startups.

Our goal is to accelerate the success of our portfolio companies by connecting them to our network of multinational corporate partners to create opportunities for business development, manufacturing, distribution, and global expansion.

Pegasus’ global corporate network includes Global Fortune 500 companies and other reputable multinational corporations across a wide variety of industries, such as consumer electronics, automotive, original design manufacturing, gaming, systems integration, health, and pharmaceuticals.

Pegasus Tech Ventures applies a collaborative approach to working with entrepreneurs and our limited partners. We help our portfolio companies grow quickly and achieve success on a global scale.

Contacts

Media Contact:
Heather Caouette
RAE Communications
+1 508-579-3894
heatherc@rae-communications.com

(c)2023 Business Wire, Inc., All rights reserved.


Venture Capital
Business Wire, California, Imbed Biosciences, Middleton, Santa Clara, Venture Capital, Wisconsin

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Kimberly-Clark Corporation, one of the world's leading manufacturers of personal care and hygiene products, will establish an $800 million advanced manufacturing facility in Trumbull County, bringing an anticipated 491 new high-quality jobs. For Kimberly-Clark, this new facility would be its first in Ohio and represents not just a strategic expansion, but a decisive step in doubling down on growth in the American market. Spread across more than one million square feet, the Warren facility will provide the manufacturing capacity needed to unleash future growth for Kimberly-Clark’s fastest-growing personal care categories that include Baby & Child Care and Adult & Feminine Care. Warren is in geographic proximity to roughly 117 million consumers and will serve as a strategic hub for the Northeast and Midwest regions. Construction is expected to begin this month and will take up to two years.

In a statement Tamera Fenske, chief supply chain officer at Kimberly-Clark said, “Our investment in Warren is a pivotal step forward in our North America business and strategy.” “By establishing a new, state-of-the-art manufacturing facility in Ohio, we’re enhancing our ability to serve millions of consumers across the Midwest and Northeast with greater speed, agility, and resilience. It’s a once-in-a-career opportunity to build a facility from the ground up that reflects the future of manufacturing, and with the support of local partners like JobsOhio, the Department of Development, Lake to River, Western Reserve Port Authority, and local governments, we have the unique opportunity to create high-quality jobs and long-term economic impact in the region.”

Based in Dallas and employing 46,000 people in 34 countries, the company’s portfolio of brands also includes Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll. Its products are sold in more than 175 countries and territories.
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Snorkel AI announced general availability of two new product offerings on the Snorkel AI Data Development Platform: Snorkel Evaluate and Snorkel Expert Data-as-a-Service. These launches advance its mission to turn knowledge into specialized AI—helping teams move from prototype to production at scale by leveraging Snorkel AI’s programmatic data development technology. In addition, Snorkel AI announced it has raised $100 million in Series D funding at a $1.3 billion valuation, led by Addition. This new funding will fuel continued research and innovation in evaluating and tuning specialized AI systems with expert data.


In a statement Alex Ratner, Co-founder and CEO of Snorkel AI said, “We are seeing a surge of momentum around agentic AI, but specialized enterprise agents aren’t ready for production in most settings.” “Enterprises need domain-specific data and expertise to make this a reality. We’re excited to deliver on this need and help AI innovators develop expert data to bring their LLM and agentic systems into production with our new offerings, which round out Snorkel’s unified AI data development stack.”

Snorkel AI is building the Snorkel AI Data Development Platform for evaluating and tuning specialized AI at scale. Snorkel AI’s offerings, including Snorkel Evaluate and Snorkel Expert Data-as-a-Service, accelerate evaluation and tuning of specialized AI systems with expert data—helping teams move from prototype to production at scale by leveraging Snorkel AI’s programmatic data development technology. Launched out of the Stanford AI Lab, Snorkel AI’s platform is used in production by Fortune 500 companies, including BNY, Wayfair, and Chubb, as well as across the U.S. federal government, including the U.S. Air Force.
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TicketManager, a global leader in event ticket and guest management solutions for the corporate enterprise, today announced Valeas Capital Partners, a growth-oriented private-equity firm, has acquired a majority stake in the company. Under the terms of the agreement, Valeas is committing $110 million to support TicketManager’s strategic growth plans. TicketManager Co-Founder and CEO Tony Knopp and COO Ken Hanscom will retain a minority interest in the Company. Founded in 2007, TicketManager is the category leader in providing software and services to manage end-to-end event ticket workflow and guest experiences. Serving as the central hub and system of record for data-driven organizations, the platform streamlines every step of the ticket management process. Every year, companies spend more than $600 billion on customer entertainment, yet 43% of corporate tickets are never used and fewer than 20% of organizations leverage modern software to optimize those investments and mitigate compliance risk.

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TicketManager is a leading event- and guest-management platform that empowers companies to make client entertainment easy and drive greater return on investment. It offers convenient and simple technology to manage corporate sports and entertainment tickets, create exceptional guest life-cycle experiences, and measure effectiveness. TicketManager is trusted by more than 500 global brands including Verizon, FedEx, Adidas, Anheuser-Busch, and Mastercard.
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