FibroBiologics Inc., a clinical-stage biotechnology company, has announced the successful completion of its third $5 million tranche as part of a $25 million Standby Equity Purchase Agreement with Yorkville Advisors Global, LP. This agreement allows the company to sell up to $25 million of its common stock over two years. The funds will be used for general corporate purposes, including advancing research and development programs and supporting a Phase 1/2 clinical trial for diabetic foot ulcers set to commence in late 2025. With over 275 patents, FibroBiologics focuses on developing therapeutics for chronic diseases using fibroblasts and fibroblast-derived materials. The recent funding marks a significant step in the company's expansion efforts.
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