RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--BioAesthetics Corporation today announced that it has significantly surpassed its Series A funding goal of $2.5 million, further advancing its inaugural product — the nipple-areolar complex (NAC) graft, or NACgraftTM, for patients who are undergoing breast reconstruction following breast cancer and mastectomy — to clinical use.
BioAesthetics’ Series A was led by a personal commitment from its Director Sandra Coufal, MD, of Sibling Capital Ventures. Dr. Coufal explained, "To mark the 5-year anniversary of my own survival from breast cancer, I felt that support for the development of this product [NACgraft™] and company was a priority investment for me personally in order to help provide a viable choice for successful, complete breast reconstruction for all women."
The NACgraftTM is a biologically-derived collagen scaffold in the shape of an NAC that integrates with a patient’s body to essentially regenerate the NAC for the patient. Like breast reconstruction, NAC reconstruction provides significant physical and psychological benefits for breast cancer/mastectomy patients. For those patients choosing breast reconstruction, they will be able to select NACgraft™(s) based upon their size and shape preferences as part of the final steps of their breast cancer journey.
“As we move into Breast Cancer Awareness Month, we are especially heartened by the substantial support we have received to help bring the NACgraftTM to market. BioAesthetics is grateful for the continued support of our investors, without whom this would not be possible,” said Nicholas Pashos, Ph.D., founder and CEO of BioAesthetics. “Given the often-unsatisfactory results of current NAC reconstruction options like prostheses, tattoos, and skin flap reconstructions, it is our hope that the NACgraftTM will improve the quality-of-life — including improved body-image and other positive psychological impacts — of those patients choosing to undergo breast reconstruction.”
This Series A also included significant funding from the NO/LA Angel Network, The Pelican Fund, The Launch Place, FemHealth Ventures, New Orleans BioFund, individual angels, and IndieBio/SOSV.
“We’re proud to have supported BioAesthetics in their mission since 2017. They've always stood out as a wholly new solution to breast reconstruction,” said Po Bronson, managing director of IndieBio/SOSV. “Typically, regenerative medicine takes a decade to get to market. We have a strong confidence in the BioAesthetics team and have always believed they would be able to get to market in a much shorter time frame than that — and they are.” IndieBio/SOSV was the company’s first institutional investor and also participated in the BioAesthetics Seed Round which was led by Hemi Ventures in 2017.
BioAesthetics is currently validating its clinical manufacturing process in preparation for clinical launch of NACgraft™.
"The BioFund is proud to be one of BioAesthetics' first funders. We are committed to continuing to support BioAesthetics' mission of helping patients recover from breast cancer through advancements in biomaterials," said Managing Director of the New Orleans BioFund Kris Khalil. "It is our hope that the NACgraft™ will make a positive impact on many breast cancer survivors' lives. On behalf of the New Orleans BioInnovation Center, we are thrilled to have played a supporting role in BioAesthetics' success and look forward to helping bring this product to market."
For more information on BioAesthetics, visit https://bio-aesthetics.com/.
BioAesthetics Corporation is a biotechnology company focused on transforming lives through advancements in biomaterials. Its inaugural product is a tissue-engineered nipple-areolar complex graft (NACgraft™) for patients who are undergoing breast reconstruction generally following breast cancer and mastectomy; the company is currently validating its clinical manufacturing process in preparation for clinical launch of NACgraft™. In addition, it has a product pipeline focused on acellular regenerative grafts for advanced wound and reconstructive care. BioAesthetics was founded as a spin-out of Tulane University in New Orleans, LA and is now located in Research Triangle Park, NC.