Miami-based TissueTech, a biotech company that focuses on regenerative medicine, raised $15 million in additional venture funding.
Ballast Point Ventures of St. Petersburg and River Cities Capital Funds in Raleigh led a Series B equity raise for TissueTech, a regenerative medicine company in Miami.
TissueTech develops regenerative amniotic tissue-based products for the ophthalmology, optometry, musculoskeletal and wound care markets. The biotech company will use the new funding to expand R&D and sales and marketing.
It’s the second time Ballast Point and River Cities have invested in TissueTech, which now has more than 100 employees, according to the Tampa Bay Business Journal. The firms invested $10 million in 2013 and have been very pleased with the company’s performance since then, Matt Rive, partner at Ballast Point, told the publication.