Tissue Regeneration Systems, a biotech spin-out of Michigan and Wisconsin, raises $4.6m from multiple backers including parents.

Biotech Tissue Regeneration Systems (TRS) has received $4.6m in series B funding in a round led by venture firm Venture Investors with participation from the universities of Wisconsin and Michigan.

Founded in 2008 as a collaborative spin-out from the two institutions, TRS is developing research that assists the body in regenerating bone tissue around the face and jaw. Its product is an implantable scaffold which is designed to provide bone-like support while the body reconstructs tissue around it. Over time, the material of the implant is absorbed by the body leaving natural bone in its place.

TRS has already progressed through animal trials and is currently seeking US Food and Drug Administration (FDA) approval for its product. Should it acquire approval, TRS will be looking to place its regeneration product in a market thought to be worth around $600m.

Jim Fitzsimmons, chief executive of TRS, said: “Our goal is to develop products we implant and allow the patient to be restored to full function in one operation, and keep their fibula.”