Financial

Silk Therapeutics Announces The Kraft Group Is Leading Its Series 1A Round Seeking $2 Million

BOSTONMarch 24, 2015 /PRNewswire/ — Silk Therapeutics, Inc., today announced that The Kraft Group of Foxboro, Massachusetts, is leading its Series 1A financing. The round was seeking to raise$2 million and all commitments are in. The company is entertaining a rolling close as the round will now likely be oversubscribed.  Daniel A. Kraft, Executive Vice President, The Kraft Group, is joining the Silk Therapeutics board of directors.

“We seek to support companies with great business potential, a keen focus on quality and their customer, and a management team with integrity and vision for the future. Silk Therapeutics is just that company,” said Daniel Kraft.

Silk Therapeutics will apply this new capital to support the launch of its clean, luxurious skincare line with initial rollout in the northeast and expanded efforts nationally, as well as to market the company’s professional line to the med-derm and spa communities. Silk Therapeutics will further focus the development of its patented natural silk technology in new markets beyond skincare, where the unique performance and purity of silk can enhance the ways in which we treat skin and care for the human body.

“We are honored that the Krafts, celebrated for their business acumen and philanthropic commitments to our Boston medical community, recognize the value of our silk technology in delivering clean, luxury skincare that works,” said Greg Altman, PhD, Chief Executive Officer and co-investor, Silk Therapeutics.

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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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