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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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Joby Aviation, a company developing electric air taxis for commercial passenger service, announced the successful closing of the first $250 million tranche of a previously announced strategic investment from Toyota Motor Corporation. The funding marks a significant milestone in strengthening the long-term collaboration between the two companies and supports their shared vision for the future of air mobility. The investment is aimed at supporting certification and commercial production of Joby’s electric air taxi. This underscores the mutual commitment to deepening integration and delivering next generation travel to global markets. This investment also puts the two companies a step closer toward a strategic manufacturing alliance.

In a statement JoeBen Bevirt, founder and CEO of Joby said, “We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design.” “This is an important next step in our alliance with Toyota to scale the promise of electric flight. With this capital and Toyota’s legendary production expertise, we’re enhancing our ability to scale cutting-edge design and manufacturing to meet the demands of our partners and customers.”

Joby Aviation is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. Powered by six electric motors, their aircraft takes off and lands vertically, giving it the flexibility to serve almost any community. Flying with Joby might feel more like getting into an SUV than boarding a plane. The company's aerial ridesharing service will combine the ease of conventional ridesharing with the power of flight. A green alternative to driving that's bookable at the touch of an app. With more than 30,000 miles flown on full-scale prototype aircraft, their aircraft is designed to meet the uncompromising safety standards set by the FAA and other global aviation regulators. Joby Aviation is now engaged in a multi-year testing program with the FAA to certify their vehicle for commercial operations, and have completed the first three of five stages.
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Infinite Reality, an innovation company powering the next generation of immersive media, AI, and ecommerce, today announced a landmark real estate partnership with renowned real estate investment, development and management firm Sterling Bay to co-develop a 60-acre site in Fort Lauderdale into a next-generation technology and entertainment campus. This ambitious redevelopment—expected to open in 2026—will serve as Infinite Reality’s new global headquarters and is the cornerstone of iR’s long-term real estate strategy, which begins with this flagship project in South Florida. The public-private project marks one of the largest creative economy investments in the area to date, aiming to generate more than 1,000 new jobs with an average salary of six figures and deliver long-term economic growth to the region. Located at 1400 NW 31st Avenue on the site of a remediated former Superfund property, the development features over 100,000 square feet of Class A office space for media, tech, and enterprise clients. Construction is expected to begin in early 2026, pending completion of permitting and design phases.

In a statement John Acunto, co-founder and CEO of Infinite Reality said, “This isn’t just a headquarters—it’s the heart of Infinite Reality’s future. As a proud South Florida resident, this project is deeply personal to me.” “It’s about transforming a community I love into a global hub for immersive technology and creativity. We’re building opportunity, fueling innovation, and laying the foundation for a lasting legacy. Partnering with a world-class development firm like Sterling Bay ensures that this vision is realized at the highest level—and that Fort Lauderdale becomes a defining force in the future of the digital economy.”

In addition to serving as a corporate campus, the site will include flexible spaces for retail, production, digital broadcasting, and entertainment ventures. The development also includes educational initiatives in partnership with local institutions to train and hire future talent in STEM, immersive tech, and creative production. Infinite Reality is an innovation company powering the next generation of digital media and ecommerce through spatial computing, artificial intelligence, and other immersive technologies. Infinite Reality’s suite of cutting-edge software, production, marketing services, and other capabilities empower brands and creators to craft inventive digital experiences that uplevel audience engagement, data ownership, monetization, and brand health metrics.
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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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