Biotech at Industry City | Cresilon Raises $17M

Industry City continues to emerge as a hub for biotech and life sciences in Brooklyn. Tenant Cresilon, a Park Slope-based biotech firm, has secured $17 million in new funding to expand production of its breakthrough product, Vetigel — a gel that stops bleeding.

Cresilon recently signed a 10-year, 55,000-square-foot lease at Industry City, doubling its footprint to support manufacturing growth following FDA approval for human use. This milestone highlights Industry City’s role in supporting high-growth biotech startups with the infrastructure and scalability they need in New York City.

As more biotech and life sciences companies choose Brooklyn, Industry City’s campus offers the lab-ready space, connectivity, and community to help them scale.

Learn more about moving your business to Industry City.

👉 Read the full article from Crain’s New York:

Crain’s: Park Slope biotech firm raises $17M after recent growth spurt

By Ethan Geringer-Sameth, 9.9.25

“A Park Slope-based biotech startup that created a gel that stops bleeding is capitalizing on recent momentum with a mutli-million dollar infusion.

Cresilon raised $17 million in a late stage venture capital round following growth in both the company’s footprint and distribution network in recent months. It is the third five-figure fundraise since the company received a key approval from the Food and Drug Administration, according to filings with the Securities and Exchange Commission.

Cresilon is the maker of a blood coagulant called Vetigel that is applied to wounds to help stop bleeding. The company, which has sold the product for use in animals, has been increasing its manufacturingcapacity since it received FDA approval for use on humans in August 2024. A pack of two syringe-like applicators sells for around $90 online.

The activity seems to have prompted interest from 95 investors, who participated in the round, according to the SEC filing. Cresilon did not respond to requests for comment.

In October, Cresilon reported raising $17 million to the SEC, followed by another $25 million raise in January. In June, the company announced a distribution agreement with Alberta-based veterinary supply company McCarthy Vet to sell Vetigel to animal surgeons in Canada.

The company has also been expanding its presence in its home-borough of Brooklyn. Earlier this year, Cresilon signed a 10-year lease at the sprawling industrial complex in Sunset Park known as Industry City, Crain’s reported in June. The 55,000 square-foot lease doubled the size of its current space in the facility, which it will use to ramp up production. The least, at an estimated $16.5 million, is the larger of two new long-term life sciences leases, including drug discovery company Rumi Scientific.”

Article Link