Biotech Company Miromatrix Plans Initial Public Offering

UMN startup Miromatrix, launched in 2010 to develop technology for lab-grown transplantable livers and kidneys, could soon head for the public markets.

The Eden Prairie-based company disclosed Friday that it's planning an initial public offering. It didn't say how much it was seeking to raise in the IPO or what price it planned to sell at.

Miromatrix, which was launched based on research from the University of Minnesota, strips cells from pig organs, leaving behind a collagen scaffold. Miromatrix then refills the scaffold with human cells from organ donors, though the plan is eventually to use cells from the individual patient needed the new organ. The goal is to quickly create organs compatible with a patient’s body so people don’t have to wait for a donor organ to become available.

Read the full story in the Minneapolis/St. Paul Business Journal.