What is FirstString Research?
FirstString Research is a specialized biotechnology enterprise headquartered in Charleston, South Carolina, focused on the therapeutic potential of connexin-based protein signaling. The company's flagship asset, Granexin gel (aCT-1), represents a significant innovation in regenerative medicine. By mimicking the C-terminus of connexin43, the drug candidate facilitates improved wound healing processes. With successful proof-of-concept efficacy demonstrated across multiple randomized, double-blinded clinical trials, the company is uniquely positioned to disrupt the treatment landscape for diabetic foot ulcers and venous leg ulcers. This market segment, valued in the billions, highlights the commercial viability of the firm's research-driven approach to chronic wound management.
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
Undisclosed Investor
A strategic partner contributing to the Series A and Series B rounds, facilitating the initial research and development of connexin-based therapeutics.
Undisclosed Investor
An undisclosed investor participating in the funding round to bolster the company's balance sheet for late-stage clinical advancement.
What's next for FirstString Research?
With the recent infusion of capital, FirstString Research is strategically positioned to initiate Phase 3 clinical development for its lead candidate. The transition into late-stage trials represents a pivotal phase in the company's lifecycle, requiring rigorous adherence to clinical protocols and regulatory standards. Future growth will likely hinge on the successful demonstration of efficacy in larger patient populations, which would validate the commercial potential of the Granexin platform. As the company scales its operations, stakeholders will be monitoring the progression of these trials as a primary indicator of long-term value creation and potential market entry in the United States and European Union territories.
See full FirstString Research company page
