Long-term stabilization and platelet storage product developer Cellphire Therapeutics announced that it closed a $15 million Series A financing round.

Rockville, Md.-based Cellphire develops Thrombosomes and Cryopreserved Platelets (CPP) in bleeding patients. The former is a platelet-based, freeze-dried hemostatic agent, while CPP — frozen platelets — is being developed for the U.S. Army to fill a gap in military transfusion support, according to a news release.

CPP is complementary to the next-generation Thrombosomes product. Thrombosomes is touted as the only platelet-based, freeze-dried hemostatic agent in clinical trials, while Cellphire expects the product to potentially transform transfusion medicine with its shelf stability of three years.

Funds raised in the Series A round are earmarked for Cellphire to expand and accelerate the development of Thrombosomes while continuing R&D in targeted drug delivery, anti-thrombotic reversal and regenerative medicine.

Along with the news of the financing, Cellphire announced that Stephen H. Willard will step away from his role as CEO and his position on the board to allow for a new CEO to guide the company through its next phase. The board has identified the new CEO, the company said, while Rafael Jorda, will fill in as acting CEO until the new hire is brought on some time in the near future.

Jorda will also join the company’s board of directors along with two new additions, Thomas I.H. Dubin and Derek E. Woods. Dubin will serve as executive chairman.