gel-e Inc., a privately-held, clinical-stage medical device company, today announces that it has raised $3.1 million in a private financing, led by early-stage investment funds and life science investors.
The financing allows gel-e to expand its initial U.S. FDA regulatory clearance for the management of bleeding wounds, including vascular access sites (Vascular gel-e®) to a broader hemostatic product line for the treatment of external wounds. In parallel, this funding allows the company to establish cGMP manufacturing of gel-e's active ingredient. If you'd like to learn more visit http://www.gel-e.co.
"gel-e exemplifies an ideal investment for us," said Jim Hughes, Director, UM Ventures. "By strategically deploying grants, gel-e has built an impressive corporate foundation, such as achieving its first regulatory clearance, securing an issued patent estate, and recognition through numerous peer-reviewed publications. We are excited to be a part of this financing that supports the next phase in the company's growth."
gel-e's mission is to develop a broad range of game-changing hemostatic and wound treatment products, including bandages for the treatment of routine cuts and scrapes, foams and putties for traumatic and military injuries, and surgical gels and powders. The path created by Vascular gel-e®facilitates expansion of the company's portfolio, while gaining greater confidence about the platform's safety and efficacy for future indications, including internal surgical use.
Prior to this financing, gel-e was funded by grants from the National Science Foundation (through the SBIR), the United States Army Research Lab, Maryland Industrial Partnerships, and the Technology Development Corporation (TEDCO).
"I've had the chance to apply the technology in a few research studies," said Dr. Mayur Narayan, attending trauma surgeon and Associate Program Director of the Surgical Critical Care Fellowship at Weill Cornell Medical College/ New York Presbyterian Hospital. "These studies involved lethal bleeding in large animal models, where we were able to achieve rapid hemostasis using gel-e hemostats with superior results to competitive products."
About the Company
gel-e is developing a novel line of hemostatic and wound treatment products. With an initial focus on external wounds, gel-e combines the use of safe, inert ingredients with proprietary chemistry that can be designed for use across a broad spectrum of clinical applications including vascular closure and during surgery. gel-e is based in College Park, Md.
For additional information, please visit http://www.gel-e.co.