Canaccord books funds for healthcare biz Triad’s pre-IPO round

The device was designed to overcome some of the limitations associated with other placental treatments, primarily high costs and problems with scaleability.

Canaccord and the company told funds that Triad was expected to generate $US21 million revenue in the 2021 calendar year, and its revenue had been growing in the double digits month-to-month,

The company was pitching itself to potential investors as an “innovative leader in placental science technology”, according to a slide deck in front of a select group of fund managers.

It said the placenta wound care market in the United States was worth about $US1.4 billion, and the company reckons it can lock up a significant slice of that market with its so-called InnovaMatrix product, which has been cleared by the US Food and Drug Administration.