EternoGen, a startup developing a botox alternative, raises $1m in series A round from unspecified backers.
University of Missouri-Columbia startup EternoGen, which is commercialising a potential rival to aesthetic beauty treatment botox, has received $1.065m from unspecified backers.
In addition, the Columbia-based firm said that it anticipates a further $500k following significant interest from investors.
EnternoGen is developing collagen replenishment therapies which could potentially rival the well-established beauty treatment botox, used by aesthetic physicians to treat aging skin, and compete in a worldwide market estimated to be worth an annual $2bn with an expected growth rate of 12-15%.
The company plans to use the proceeds from the latest round of funding to begin human trials ahead of a rollout in Europe and Asia.
Luis Jimenez, EternoGen president and chief executive, said: “Our successful financing was a marker, we believe, of our company’s significant progress this year and potential in the near future. We look forward to commercializing our aesthetic indication in Europe, and believe that our natural, regenerative approach to skin ageing will expand the entire category by offing a completely unique approach to restoring skin strength.”
