Fibrobiologics announced it has raised $25 million through a private placement of Series B convertible preferred stock. According to the company, the financing will be used to advance its fibroblast-based cell therapy programs targeting chronic conditions including multiple sclerosis, degenerative disc disease, and certain cancers.
The company said it plans to allocate proceeds toward ongoing and planned clinical trials, preclinical research, and general corporate activities. Fibrobiologics claims its approach leverages the regenerative and immunomodulatory properties of fibroblasts to develop novel therapies for diseases with limited treatment options.
According to the company, the financing reflects investor support for its strategy to translate fibroblast science into therapeutic applications. Fibrobiologics said the funding will help progress lead candidates through critical development stages and regulatory pathways.
The company claims its platform is designed to address multiple disease areas by modulating inflammation and promoting tissue repair. Fibrobiologics said it remains focused on building a diversified pipeline and moving forward with clinical evaluation of its cell-based therapies.
The company noted the new capital strengthens its position to explore additional indications where fibroblast-based treatments could provide clinical benefit.
