Triad Life Sciences
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Triad Life Sciences was a Memphis, Tennessee biotech company founded in 2017 by Russ Olsen, developing tissue-based solutions for acute surgical wounds, chronic wounds, soft-tissue injuries and ophthalmic care. Its material-science platform improved on extracellular matrix (ECM) products with proprietary processing for consistency, yielding placental-derived devices like InnovaMatrix AC and InnovaMatrix PD. The company raised about $30 million across rounds including a $25 million venture round in August 2021. In January 2022 it was acquired by ConvaTec at a valuation reported between $125 million and $450 million.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
Russ Olsen founds Triad Life Sciences in Memphis, Tennessee in 2017 to build better tissue-based wound-care products.
- Funding
Triad Life Sciences raises successive venture rounds — $1 million seed in October 2017, $2.87 million in June 2018 and $25 million in August 2021 led by Regal Funds Management and GeneChem.
- Acquired
In January 2022 ConvaTec acquires Triad Life Sciences at a reported $125–450 million valuation.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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