Durham-based Aldagen Inc., which is focused on tissue repair and regeneration, recently announced it has closed on series C equity financing. Harbert Venture Partners LLC and Intersouth Partners co-led the financing, and others participating in the round were existing investors Aurora Funds, Trelys Funds, L.P., Tall Oaks Capital, Village Ventures and the Piedmont Angel Network.

The $3 million in debt financing was secured with Square 1 Bank. The Company will use these funds to advance its pipeline of regenerative medicine clinical studies.

"We believe Aldagen's stem and progenitor cell isolation technology is applicable to multiple large, addressable markets," said Will Brooke, managing partner of Harbert Venture Partners.

"This, in combination with Aldagen's experienced management team, positions Aldagen as an attractive investment opportunity for us. We are pleased to support Aldagen and look forward to being a part of a company that has the potential to revolutionize regenerative medicine."

Aldagen Chairman Tom Amick said: "We are pleased the investors participating in this round, both new and old, see the significant potential of Aldagen's technology to address important unmet medical needs." "The funding from this round will allow us to continue to advance our clinical trial pipeline which is one of the most advanced in the regenerative medicine field."

Aldagen presented at the 2006 SEBIO Investor Forum in November.