Miromatrix Medical: Bioengineering Human Organs. Next Big Medical Breakthrough?

Miromatrix Medical (MIRO US) , a biotechnology and life sciences company pioneering a novel technology for bioengineering human organs, closed initial public offering of ~5.52 million shares of common stock in June. Sole managing underwriter Craig-Hallum Capital Group exercised its option to purchase 720,000 shares at IPO price of $9.00 per share.

Miromatrix Medical (MIRO US) was backed by strategic investors such as Baxter International (BAX US) , Davita Healthcare Partners (DVA US) and CareDx. Biotech startup has raised $20 million from Series C private round and ~$45 million of net proceeds from an IPO to start human clinical studies. First of all, Miromatrix Medical plans to demonstrate bioengineered human organs outside of the patient’s body and during the next stage shift focus to full organ transplantation.