Serigen Mediproducts raises Rs 10 Cr funding led by IAN Alpha Fund & others

Funding boost to further the company’s mission to revolutionise regenerative medicine

Pune-based Serigen Mediproducts, a biomedical products manufacturing startup, has raised Rs 10 crore from IAN Alpha Fund & Colossa Ventures, along with existing and new angel investors.

This significant financial boost will be instrumental in furthering the company’s mission to revolutionise regenerative medicine. Serigen Mediproducts is also a part of BioAngels' portfolio company, which aligns with their vision of advancing biotechnology innovations.

Serigen is at the forefront of developing tissue regeneration products using silk proteins. With a focus on innovation, the company aims to revolutionise regenerative medicine through cutting-edge research and development.

Serigen has developed three innovative products: Serioss, an osteoconductive bone void filler; Seriderm, an absorbent wound dressing designed using silk protein to accelerate wound healing; and Serimat, a silk protein mesh used in reconstruction surgeries of various organs, including breast reconstruction, abdominal wall reconstruction, and dural repair. These products offer cutting-edge solutions for medical professionals, leveraging the unique properties of silk protein to enhance patient outcomes in wound care and surgical procedures.

Serigen is the world’s first company to conduct a human clinical trial to demonstrate the usefulness of silk based scaffolds in bone repair and regeneration. The company is certified under international quality standard ISO 13485 and has already secured CDSCO’s (Indian regulator) approvals for manufacturing and sales of its advanced wound care product – Seriderm.

Anuya Nisal, Founder & CEO, Serigen Mediproducts, said “The proceeds of the funding will be directed towards completion of clinical trials, obtaining Indian and global regulatory approvals for our product lines, accelerating sales and marketing efforts, and building and strengthening our team.”

Published on : 02nd September, 2024