SALT LAKE CITY, May 20, 2024 (GLOBE NEWSWIRE) -- PolarityTE, a clinical-stage biotechnology company developing regenerative tissue products, today announced that it has raised $12.5 million in equity financing from institutional investors and current shareholders. In addition, the Company closed on a new senior secured credit facility with the Avenue Venture Opportunities Fund, L.P. ("Avenue Venture Debt Fund" or "Avenue"), part of Avenue Capital Group. The credit agreement provides up to $10 million in total term loan capital including a first tranche of $5 million funded at closing. Proceeds will be used to advance SkinTE's Phase III Pivotal Study evaluating SkinTE in the treatment of Wagner 1 Diabetic Foot Ulcers (COVER DFUS II). "We are very excited to secure this financing and partner with Avenue Capital, a well-known institutional investor, as ...