On May 29, 2024, Acorn Biolabs Inc., a personalized regenerative medicine company, announced the successful closure of its Series A funding round, raising US$8 million. The investment round was led by Merz Aesthetics – the world’s largest dedicated medical aesthetics business – with participation from TELUS Global Ventures, MDE Investments, Inc., The Leslie Group, Lee Li Holdings, as well as esteemed physicians specializing in medical aesthetics, orthopedics, and longevity.
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. The investment proceeds will be primarily directed towards developing Acorn's portfolio of cosmetic products and expanding its commercial reach, paving the way for the launch of the company's first topical product within the next year.
Fasken advised Acorn in connection with this transaction with a team comprised of Will Shaw and Alec McIlwraith-Black.
Jurisdiction
- Ontario
