After closing crowdfunding round, Houston biotech co. FibroBiologics reconsiders IPO route
FibroBiologics co-founder and CEO Pete O'Heeron told the Houston Business Journal the funding would help the company progress towards its eventual listing as a public company. The company is working on a treatment for Crohn's disease and has raised $50 million in funding so far.
After deciding against going public last year, a Houston-based biotech company has reconsidered the idea after a successful crowdfunding campaign.
FibroBiologics is a clinical stage company that specializes in cell therapy, using a cell type known as a "fibroblast". The crowdfunding round was launched on StartEngine platform in January. According to the offering page of StartEngine, the round raised nearly $5 million from 718 investors.