What is FirstString Research?
FirstString Research is a clinical-stage biotechnology firm founded on pioneering research from the Medical University of South Carolina, focusing on the therapeutic role of connexin-based protein signaling. Its lead drug candidate, Granexin® gel (aCT-1), is a proprietary peptide mimetic designed to address critical processes in wound healing. The compound has shown positive proof-of-concept efficacy and a favorable safety profile in multiple clinical trials, positioning it for Phase 3 development for diabetic foot ulcers (DFUs) and venous leg ulcers (VLUs). The market for DFUs alone is substantial, estimated to reach $1.6 billion in major economies by 2017, highlighting the significant commercial potential for FirstString's therapeutic solutions.
How much funding has FirstString Research raised?
FirstString Research has raised a total of $10.2M across 4 funding rounds:
Series A
$3.2M
Series B
$6.6M
Debt
$150K
Debt
$203K
Series A (2010): $3.2M, investors not publicly disclosed
Series B (2017): $6.6M, investors not publicly disclosed
Debt (2020): $150K supported by PPP
Debt (2021): $203K featuring PPP
Key Investors in FirstString Research
PPP
Public-Private Partnership
What's next for FirstString Research?
With its recent major strategic investment, FirstString Research is poised to advance Granexin® gel into Phase 3 clinical trials. This critical stage of development will further validate the drug candidate's efficacy and safety for treating debilitating conditions like diabetic and venous leg ulcers. The company's focus on a well-defined market with significant unmet needs, coupled with its strong scientific foundation, suggests a strategic path towards potential commercialization and addressing a substantial healthcare challenge.
See full FirstString Research company page
