Teal Bio, Inc.Announces Oversubscribed Series A Funding Round



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$ 2.45 million led by Caligan Partners LP to fund the development of an innovative and reusable respiratory protection platform

SOMERVILLE, Mass .– (BUSINESS WIRE) – Teal Bio, Inc., a medical device startup revolutionizing respiratory protection, today announced it has raised $ 2.45 million in Series A funding led by Caligan Partners LP. The funding will allow the company to complete the development and regulatory approval of its innovative reusable respiratory protection platform, which offers significant improvements in the comfort, communication and retention of personal protective equipment (PPE). for healthcare workers.

“The need for PPE is not going away and we need better and more environmentally friendly solutions for healthcare workers,” said Tony Casciano, CEO of Teal Bio. “While the N95 disposable masks have been incredibly useful during the pandemic in protecting healthcare workers, they have significant limitations. They are notoriously uncomfortable, contribute to the millions of tonnes of plastic medical waste in our environment each year, and can dramatically degrade communication essential in patient care. Our reusable respirator system is designed to provide healthcare workers with comfortable, cost-effective, durable and less troublesome respiratory protection. ”

Teal Bio’s flagship product, expected in 2022, is a reusable, patent-pending respirator platform that is safe, cost-effective, transparent and creates significantly less waste than traditional single-use masks, including N95 masks. . The body, which is made of clear medical grade silicone, can be disinfected with simple alcohol wipes and reused. Replaceable filters, which are made from a substantially biodegradable blend that creates less waste and takes up less space than N95 disposable masks, snap on and are replaced daily. Teal Bio’s Series A financing was led by Caligan Partners LP and included the continued participation of original investor Innocreative Capital.

“The environmental impact of disposable masks, including single-use N95s, which are mainly made of non-recyclable plastic, is significant. We are proud to lead Series A funding for an innovative, cost-effective and environmentally responsible approach to improving the protection of hospital staff, patients and the environment and have great confidence in Tony and the team. of Teal Bio to seize the substantial opportunity, ”said Dave Johnson, Managing Partner, Caligan Partners LP.

Teal Bio, Inc. was founded by Dr. Robert Langer, institute professor at MIT and the most cited engineer in history; Dr Giovanni Traverso, Assistant Professor, Department of Mechanical Engineering at MIT, Division of Gastroenterology, Brigham and Women’s Hospital, Harvard Medical School; Jason Troutner, former technical director of Cast21; Adam Wentworth, Senior Clinical Engineer, Mayo Clinic, and Dr James Byrne, Assistant Professor, Departments of Radiation Oncology and Biomedical Engineering, University of Iowa Health Care. The company is led by Tony Casciano, newly appointed CEO, longtime sales manager of Sanofi Genzyme and former COO of AMAG pharma.

ABOUT TEAL BIO

Teal Bio is a Massachusetts-based developer of innovative, reusable respiratory protective equipment. Their reusable mask and patent pending filter platform reduce waste, improve communication and are more comfortable than existing N95 solutions. Teal Bio, Inc. is based in Somerville, MA and operates out of Greentown Labs, the largest climate technology incubator in North America. For more information, please visit www.teal-bio.com.

Dan Boyle

Orangefire

[email protected]

(818) 209-1692

Source: Teal Bio, Inc.


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