On November 12, 2024, FibroBiologics, Inc. (FBLG) announced financial results for the third quarter of 2024 and provided a business update. The company is continuing preparations for a Phase 1/2 clinical trial in Australia to test its fibroblast-based spheroid product as a therapy for diabetic foot ulcers. We anticipate the trial initiating in the second quarter of 2025 and completing by the end of 2025. FibroBiologics recently announced filing two patent applications covering cell-based therapy for splenomegaly and reduction of blood clots associated with instant blood-mediated inflammatory reaction (IBMIR) in cell-based therapeutics. These add to the company's already large intellectual property portfolio and show its commitment to scientific discoveries on its path to developing fibroblast-based therapies.
