Miromatrix Medical, which is developing novel bioengineering technology for organ transplants, filed on Friday with the SEC to raise up to $20 million in an initial public offering.
Miromatrix is developing a novel technology for bioengineering fully transplantable human organs, with an initial focus on human livers and kidneys. The company has demonstrated the ability to bioengineer these organs with functional vasculature and important organ function in preclinical studies, and it has collaborations with the Mayo Clinic, Mount Sinai, and the Texas Heart Institute. Miromatrix hopes to initiate its first Phase 1 trial in late 2022 with its External Liver Assist Product (ELAP System), with interim results anticipated in early 2023. The company previously developed and commercialized two medical device products using its proprietary perfusion decellularization technology: Miromesh for hernia repair applications, and Miroderm for a variety of advanced wound care applications. Miromatrix spun out this business as Reprise Biomedical in June 2019 in order to focus on bioengineered human organs.
The Eden Prairie, MN-based company was founded in 2009 and plans to list on the Nasdaq under the symbol MIRO. Miromatrix Medical filed confidentially on March 29, 2021. Craig-Hallum Capital Group is the sole bookrunner on the deal. No pricing terms were disclosed.
