What is FirstString Research?
FirstString Research is a privately-held biotechnology company founded on pioneering research from the Medical University of South Carolina. The company's core focus is characterizing the therapeutic role of connexin-based protein signaling. Its lead drug candidate, Granexin® gel (aCT-1), is a proprietary peptide mimetic of connexin43, crucial for wound healing processes. Granexin® gel has shown positive proof-of-concept efficacy and a benign safety profile in three clinical trials and is slated 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 2017 in the US and major EU economies.
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
PPP
Public-Private Partnership
What's next for FirstString Research?
With the recent infusion of capital, FirstString Research is strategically positioned to advance Granexin® gel into Phase 3 clinical trials. This major strategic investment signals strong investor confidence in the company's therapeutic approach and the significant market opportunity for advanced wound care solutions. The company's trajectory suggests a focus on scaling operations, completing pivotal trials, and preparing for potential commercialization, marking a critical juncture in its development from a research-focused entity to a product-driven biopharmaceutical company.
See full FirstString Research company page
