Champion VC and LRM founder and CEO Dr Samuel Lynch spearheaded the financing round.
This funding will support the company’s efforts to leverage its patented pure platelet-derived growth factor (PDGF) technology in the aesthetics market.
LRM’s technology is centred around PDGF, the only tissue growth factor approved by the FDA and other international regulatory bodies for its safety and efficacy in human tissue regeneration and wound healing.
The technology is the active component in four FDA-approved products, designed to enhance the healing and regeneration of orthopaedic, periodontal, and skin tissues.
LRM plans to apply this technology to the field of skin aesthetics, with its first product, Ariessence Pure PDGF+, currently available in leading med/spa clinics and aesthetic-focused offices.
With the capital from the Series A round, LRM also plans to expand its commercialisation strategy.
The company plans to grow its team by hiring additional top-tier talent across various disciplines, including commercialisation, business development, clinical development, and regulatory affairs, to further its mission of revolutionising skin care.
Dr Lynch said: “I’ve spent my career studying regenerative medicine and developing and commercializing PDGF products to regenerate tissues lost due to trauma or disease. I’m most excited to bring pure PDGF-based solutions to the skincare market, where we see the largest unmet need for proven solutions for skin rejuvenation and regeneration.”
“Growth factors are playing an important role in skincare today, but there are no other solutions backed by the level of scientific and clinical evidence that supports the safety and effectiveness of pure PDGF.”