Acorn Biolabs, a personalized regenerative medicine company that offers the world’s first non-invasive, follicle-based, stem cell cryopreservation service and is developing treatments made from a patient’s own cells, today announced that it has secured more than $8 million USD in Series A funding across multiple closings.
The Series A round was led by Merz Aesthetics and includes investment from TELUS Global Ventures, MDE Investments, Inc., The Leslie Group, Lee Li Holdings and several prominent physicians in the medical aesthetics, orthopedic and longevity fields. This funding round will primarily be used to develop the company’s portfolio of cosmetic products and expand the commercial footprint ahead of the launch of the company’s first topical product in the next year.
“Acorn is pioneering a unique business model in regenerative medicine. At the core, we facilitate the collection, expansion and storage of a patient’s own cells through our hair-follicle based cryopreservation business. This business model has shown steady growth since launch, and we expect it to accelerate through investment in direct-to-consumer advertising and in-clinic promotion,” said Drew Taylor, MSc, PhD, CEO of Acorn Biolabs. “This funding round also enables Acorn to execute on our robust pipeline of potential cosmetic uses for these cells, including hair and skin applications, which we expect to launch in North America in the next year.”
The company launched its hair-follicle derived, stem cell banking service in Canada and the United States last year. Leveraging these preserved stem cells, Acorn plans to develop a pipeline of personalized products in aesthetics, orthopedics and other markets where stem-cell derived treatments fill an unmet need.
“Merz Aesthetics is at the forefront of the emerging field of regenerative aesthetics, which seeks to stimulate the body’s own systems to repair and restore the structure and integrity of aging skin. We are looking to invest in opportunities that lie at the intersection of regenerative aesthetics and personalized medicine and our investment in Acorn Biolabs directly aligns with this strategy,” said Jon Parrish, PhD, Chief Corporate Development Officer at Merz Aesthetics.
With offices in Toronto, Canada and Los Angeles, California, Acorn Biolabs is a next-generation personalized regenerative medicine company with services currently offered at partner clinic locations across North America. Acorn has developed the world’s first non-invasive, follicle-based cell cryopreservation service and has patented cell-based treatments made from a patient’s own hair follicle cells. Learn more at www.acorn.me.