Hahn Loeser & Parks LLP recently advised its client, Auxilium Health, on its closing of a $3.4 million oversubscribed Series Seed Preferred Stock capital raise. Partner James M. Gianfagna led the transaction for Hahn Loeser and was assisted by Paige Evans.
The complex seed round, backed by returning and new regional and strategic investors, more than doubled Auxilium Health’s prior raise and reflects growth in the company’s technology. The new capital supports the advancement of Auxilium Health’s lead product (Aer™), toward FDA clearance and first-in-human use while continuing to build its team and deepen its research.
About Auxilium Health
Auxilium Health develops a new class of bioaerogels that reduce the risk of bacterial colonization and guide tissue regeneration. Its Aer™ platform spans wound repair, bone regeneration, and localized delivery, with a lead product advancing toward FDA clearance and clinical studies. Headquartered at the Cleveland Clinic’s Global Innovation Center, the company is supported by the National Science Foundation, the Ohio Department of Development, and the Polymer Industry Cluster.
Over the last year, Auxilium Health’s team has doubled, attracting researchers and scientists to relocate to Cleveland to join the company’s mission.
For nearly four decades, biomaterials have sought to win what surgeons and scientists call the “race for the surface”—the contest between a patient’s healing cells and bacteria to colonize a material first—by killing bacteria after they arrive. Auxilium Health’s Aer™ platform takes a different approach with an engineered matrix-like product that mimics the body’s own extracellular matrix and is designed to win that race structurally by resisting bacterial attachment while welcoming regenerative cells, all without relying on antibiotics.
“Last year, the question was whether the science was real. This year, it’s how fast we can get it to patients,” said Isaiah Kaiser, PhD, Founder and CEO of Auxilium Health. “We’re grateful to our investors and partners who believe in the science and the team behind what we’re building. Their confidence lets us move with the urgency this problem deserves.”
