Wound Treatment Co. BioMonde Wraps Up £3.5M Funding Round
June 03, 2014
BioMonde, a U.K.-based wound care business, has raised £3.5 million ($5.9 million) in funding from Oxford Capital and Finance Wales. The company has developed a larval (maggot) therapy for hard-to-treat chronic, infected and necrotic wounds. BioMonde sells over 35,000 treatments annually in the U.K., Germany and the rest of Europe, and achieved revenues of £5 million ($8.4 million) in the past year. BioMonde recently received approval from the U.S. Food and Drug Administration to market its "BioBag" product (which contains the larvae in a sterile bag) in the U.S. The investment will be used to set up a U.S. production plant and launch BioMonde in the U.S. market.