Memphis, United States, and Melbourne, Australia – 30 August 2021 – Innovative US based biotech company Triad Life Sciences, Inc (Triad or the Company), is pleased to announce the completion of a successful A$25 million funding round which saw strong support from major Australian institutional investors. The convertible note placement was led by Cannacord Genuity, with funds raised supporting Triad’s US sales force expansion plans, R&D activities, and general working capital needs. The Company now plans to move forward with a listing on the Australian Securities Exchange (ASX) in the coming months.
Triad is now bringing to market its ground-breaking FDA-cleared technology platform engineered to address unmet clinical needs in treating complex surgical wounds, chronic stalled wounds, and burns. Triad’s proprietary, patent-pending technology provides innovative treatment solutions derived from a naturally occurring extracellular matrix (ECM) material. The Company’s InnovaMatrix™ Advanced Care Placental ECM offers a unique, unparalleled solution to challenges with using human cell and tissue products while also providing the reliability, reproducibility, and safety profile of a medical device.
A world-first, Triad’s placental platform technology: InnovaMatrix™ is the only placental product to receive 510(k) FDA clearance setting a new benchmark for product quality, innovation and affordability. With an established presence in the US wound care market, Triad is well positioned to compete and assume a leadership position in the US$1.4B placental wound care market.
Triad CEO, Russ Olsen said “I was pleased to see the strong support from Australian investors and look forward to working towards an ASX listing in the coming months. The funds raised allow Triad to accelerate salesforce expansion and bring new products forward, allowing patients, providers, and clinicians access to its life improving technology platform, Innovamatrix™. I look forward to sharing our progress with shareholders as we move forward.”
About Triad Life Sciences
Triad Life Sciences, Inc. is an emerging biotech company focused on developing and commercializing innovative, efficacious and affordable biomaterials for treating complex surgical and chronic wounds. Triad recently received FDA clearance to market InnovaMatrix™, a next generation extracellular matrix (ECM) wound care device. As the first and only FDA cleared placental wound care device, this disruptive technology platform will set the bar for future wound care materials in terms of product reliability, product innovation and best-in-class economics.
At Triad Life Sciences, you will find a team of dedicated professionals that possess a fierce resolve, unwavering enthusiasm and commitment to excellence in delivering solutions to uplift and save lives. www.triadls.com.
Authorisation & Additional Information
This announcement was authorised by President and CEO, Russell I. Olsen.
Investor and Media Contact:
WE Communications – Evonne Grosso
M: +61 450 603 182