Silk Therapeutics Announces The Kraft Group Is Leading Its Series 1A Round Seeking $2 Million
BOSTON, March 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.
The company's proprietary silk technology creates a pure, liquid silk solution, harnessing the power of pure natural silk to support skin health and fight the signs of aging by locking in moisture, smoothing fine lines and wrinkles, and protecting the skin. Silk Therapeutics is the only skincare line produced from pure, natural silk protein, rather than silk waste byproducts such as hydrolyzed silk, sericin, silk powder or genetically modified proteins.
Pure silk can enhance skin and also effectively surround, protect and deliver a range of treatments -- from vitamin C to therapeutic agents -- with potential applications in multiple healthcare and consumer markets. Silk Therapeutics is also currently developing an ultrasensitive skincare line designed as a natural, safe option for those with extremely sensitive skin, for conditions such as eczema, and for oncology patients undergoing chemotherapy and radiation, to heal, soothe and restore damaged and inflamed skin.
"Silk Therapeutics is more than a skincare line. It is a healthcare company, with great potential to improve the health and wellbeing of its customers. Silk Therapeutics' goal of creating a line of products safe enough for patients undergoing cancer treatment immediately resonated with my family," added Kraft.
The founders of Silk Therapeutics, Altman and Rebecca Horan, PhD, the company's Chief Operating Officer, are biomedical engineers world-renowned for pioneering silk science to improve human health. They have worked together for more than 15 years, developing silk-based platform technologies for applications in diverse medical specialties, including orthopedics, plastic surgery, general surgery and women's health.
Silk Therapeutics' consumer product line is sold online at www.silktherapeutics.com.
In addition to his position with The Kraft Group, Dan Kraft serves as President and Chief Executive Officer of International Forest Products LLC (IFP), a member of The Kraft Group. IFP is an international trading company that markets paper, pulp and solid wood products to more than 80 countries worldwide. Previously, Dan was Vice President of Marketing for The Kraft Sports Group, which includes the New England Patriots, the New England Revolution and Foxboro Stadium (now Gillette Stadium). He is a Founding Board Member and Board Chair for Team IMPACT, Trustee Emeritus at Tufts University, and is a member of the Board of Directors of the Dana-Farber Cancer Institute and Board of Directors of the Make-a-Wish Foundation of Massachusetts and Rhode Island.
About The Kraft Group
The Kraft Group is a privately owned, family-operated company with a strong commitment to customer focus. The company's diverse interests are concentrated in five areas: paper/packaging manufacturing and forest products distribution; sports and entertainment; real estate development; private equity investing; and philanthropy. The Kraft Group is comprised of 5,000+ employees, manufacturing and distribution facilities, executive office buildings and sports stadiums located on four continents. Run by the Kraft family, the company is focused on creating value for every customer in an up close and personal way.
About Silk Therapeutics
Silk Therapeutics, Inc., headquartered in Boston, MA, is the leader in silk protein solutions for human health and wellness. The founders of Silk Therapeutics are world-renowned as pioneers in silk science to improve human health. Dr. Greg Altman, CEO, and Dr. Rebecca Horan, Chief Operating Officer, have worked together for more than 15 years developing silk-based applications used in a number of medical products, and are currently focused on addressing unmet needs in the treatment and enhancement of skin. Dr. Horan's personal experience as a cancer survivor, and the company's commitment to the wellbeing of its customers, is the foundation for Silk Therapeutics pure, risk-free skincare that work naturally with the body.
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SOURCE Silk Therapeutics, Inc.
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http://www.silktherapeutics.com
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