Fibrobiologics announced it has closed the third $5 million tranche of its previously disclosed $25 million private placement financing. According to the company, this latest funding round supports its ongoing clinical and preclinical programs focused on fibroblast cell therapy.
The company said the financing was completed through the sale of Series B convertible preferred stock to institutional and accredited investors. Fibrobiologics claims the capital will be used to advance its pipeline targeting chronic diseases including multiple sclerosis, degenerative disc disease and certain cancers.
According to the company, proceeds from the broader $25 million financing are also expected to fund research, development and general corporate purposes. Fibrobiologics said its approach centers on leveraging fibroblasts’ regenerative and immunomodulatory properties to develop novel cell-based therapies.
The company claims this funding milestone reflects continued investor support for its therapeutic strategy and clinical plans. Fibrobiologics said it remains focused on moving its lead programs through key development stages and preparing for potential future clinical trials.
Fibrobiologics also noted it aims to build a diversified pipeline of fibroblast-based therapies to address diseases with significant unmet medical needs.
