Acorn Biolabs, a biotech startup based in Toronto, has recently secured $11 million in Series A funding to further enhance access to regenerative medicine treatments. The funding round, consisting of all-equity investments, was led by Merz Aesthetics and supported by Telus Global Ventures, MDE Investments, The Leslie Group, Lee Li Holdings, and various physicians in aesthetics and longevity fields.
Founded in 2017, Acorn Biolabs specializes in preserving stem cells from clients’ hair follicles for potential use in regenerative medicine therapies. The company touts itself as offering the world’s first non-invasive hair follicle-based cell cryopreservation service. By storing these cells, Acorn aims to unlock opportunities for hair regrowth, skin rejuvenation, injury recovery, and disease treatment through personalized regenerative medicine.
With the newly raised capital, Acorn plans to expand its commercial presence and develop cosmetic solutions leveraging stem cell technology. CEO Drew Taylor expressed confidence in the startup’s growth prospects, particularly in the North American market, following investments in direct-to-consumer marketing and clinic partnerships.
Acorn’s innovative approach to stem cell preservation has garnered attention and validation from the investment community, with the company boasting a higher valuation post-Series A compared to its previous seed funding. The startup intends to leverage its cutting-edge technology to launch personalized skin and hair care products, complementing its existing service offerings.
Looking ahead, Acorn plans to scale its operations, establish additional clinic partnerships, and introduce a range of skin and hair care products derived from clients’ own stem cells. With a focus on regenerative aesthetics and personalized medicine, the company aims to carve a niche in the competitive skincare industry by offering truly unique and tailored solutions.
Merz Aesthetics’ investment in Acorn reflects a strategic alignment with the growing trend of regenerative aesthetics, emphasizing the natural repair and revitalization of aging skin. As Acorn continues to innovate in the field of regenerative medicine, its groundbreaking approach to stem cell banking and personalized cosmetic products positions it at the forefront of the industry’s evolution.
