Garnet BioTherapeutics, Inc.
Headquartered in Malvern, PA, Garnet BioTherapeutics is a clinical stage regenerative medicine company. Garnet’s cell-product GBT009 releases anti-inflammatory and pro-healing factors that accelerate healing and reduce scarring. The company is currently targeting dermatology applications, with plans to expand into other reconstructive and cosmetic procedures as well as looking at ways to advance the technology for use in orthopedic and cardiovascular surgical procedures, burn treatment, chronic wound healing and auto-immune disorders. www.garnetbio.com
Investment Thesis — Garnet is developing a proprietary class of cells that release pro-healing factors that reduce inflammation, accelerate tissue regeneration, and delay or prevent fibrosis/scarring. Scar reduction is an unmet medical need that no product has been approved to treat. The top patient concern for cosmetic surgery is scarring, which often influences elective-surgery decisions and overall satisfaction with the procedure.
Market Opportunity — In 2007, $8.3B was spent on cosmetic surgery in the U.S. An effective product at reducing or preventing scarring would apply to 13 of the top 21 cosmetic procedures, an addressable market of more than $850M. Treatment for burns and orthopedic surgeries represent an additional market of more than $1B.
Safeguard Board Members — Gary J. Kurtzman, MD and Jim P. O'Connell
Financial Summary — Safeguard deployed $4M in Garnet BioTherapeutics and has a 31% primary ownership position. Co-investors include SCP Vitalife Partners and Alliance Technology Ventures.
Initial Investment — November 2008
Sector — Life Sciences, Medical Devices
