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Silk Therapeutics Raises Funds To Expand Skincare Line

Silk Therapeutics, Inc. has now raised a total of $10.25 million in Series A funding.

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By: Marie Redding

Senior Editor, Rodman Media

Silk Therapeutics, Inc. has announced it closed a $6 million Series A2 financing round – and this means the company has now raised a total of $10.25 million in Series A funding. Now, the company has plans to expand its skincare product line.

Silk Therapeutics will also begin to explore additional consumer markets where the benefits of its “pure liquid silk” may be leveraged to improve human health and eliminate the unnecessary use of unregulated chemicals in today’s consumer products.

The company’s patented natural silk protein technology is for use in consumer goods and medical applications. It creates a pure, natural liquid silk solution to support skin health and fight the signs of aging, the company says, by supporting the skin’s ability to produce healthy collagen while firming and smoothing the skin.

More Details About the Funding

The Series A2 round was led by existing investor The Kraft Group of Foxboro, Massachusetts, with participation from new investors Lear Corporation and Highland Consumer Partners, as well as existing investors Sheri and Roy P. Disney; Richard Sackler, MD, with Summer Road, LLC; Erin Donohue and Ron Bresler, BML Group; and Altman Health Investments. Silk Therapeutics is the leader in silk protein solutions for human health and wellness.

Greg Altman, PhD, Chief Executive Officer and co-founder, Silk Therapeutics, said, “This round of funding has far exceeded our expectations and we are grateful to our partners for their support of our proven silk technology platform to create products that enhance human health and wellness.”

Altman continued, “From the onset, the Kraft family has been a driving force, helping focus our efforts and serving as important brand advocates for our skincare line. We also welcome Lear Corporation and Highland Consumer Partners and look forward to their important perspective and expertise as we continue to expand our technology’s application. We now have the capabilities and team in place to advance our research and expand our product offerings, while educating the market and demonstrating the benefits of pure silk.”



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