Co-founded by Andrew Pelling (HBSc 2001), Spiderwort raises $17.1M

July 12, 2022 by Betakit Charlize Alcaraz

Ottawa-based biotech company Spiderwort has secured $17.1 million CAD ($13.2 million USD) in its Series A round led by Horizons Ventures.

According to Spiderwort, this latest investment round will support the company as it transitions from pre-clinical studies to clinical trials, which Spiderwort said was critical in bringing its products to market.

Founded in 2015 and led by Charles Cuerrier (CEO) and Andrew Pelling (HBSc 2001) (CSO), Spiderwort uses cellulose-based biomaterials to engineer living scaffolds for a variety of regenerative medicine applications. The company’s Aerocell and Hydrocell technology platforms provide clinicians and research teams with control over stiffness, shape, textures, and long-range architectures to stimulate and control tissue regeneration.