Industry Update: Capital market and finances
Latest capital market and finance developments in the field of stem cell research and regenerative medicine compiled from publicly available information and press releases from non-academic institutions June 01 – June 30, 2017.
Latest capital market and finance updates compiled from June 01 – June 30, 2017, scheduled to be published in Volume 12 Issue 7 of Regenerative Medicine.
BrainStorm Cell Therapeutics (Israel; www.brainstorm-cell.com) has been awarded a new grant of approximately US$ 2.1 million by the Israel Innovation Authority (IIA) (www.matimop.org.il/about_authority.html). The funds will support the development of NurOwn®, BrainStorm's innovative MSC-based platform for the treatment of neurodegenerative diseases.
Emulate (MA, USA; https://emulatebio.com) has announced that it has received a research grant to use the company’s human Brain-Chip system and develop a fully automated research platform, to conduct experiments on the International Space Station. Studies will analyze the Brain-Chip, which consists of neuronal and vascular endothelial cells in a living micro-engineered environment. Experiments will be conducted under healthy and inflamed states to assess how space travel affects neuronal function. The NIH’s National Center for Advancing Translational Sciences (NCATS) provided the award of $2 million. The Center for the Advancement of Science in Space (CASIS), the organization tasked by NASA to manage and promote research onboard the International Space Station U.S. National Laboratory, will coordinate the implementation of Emulate’s Human Emulation System to conduct research in space.
Gamida Cell (Israel; www.gamida-cell.com) has announced the signing of a US$ 40 million financing to support the ongoing Phase 3 trial of the Company’s FDA Breakthrough Designated clinical-stage product, NiCord, to facilitate bone marrow transplantation. Gamida Cell plans to use the proceeds to complete NiCord’s Phase 3 clinical trial and prepare for product commercialization by expanding its in-house manufacturing capacity, and the Company’s presence in the US, as well as continuing to develop additional pipeline products such as CordIn® for rare genetic diseases and NK cells as a treatment for cancer.
Rubius Therapeutics (MA, USA; www.rubiustx.com) has raised US$ 120 million in a highly oversubscribed private financing. Rubius has developed the technology to grow, genetically engineer and mature long circulating red cell therapeutics which will provide transformational clinical benefits to a wide range of patients across multiple therapeutic areas. These allogeneic, off-the-shelf products offer the additional advantage of extended stability and storage to allow for rapid, universal access by the medical community. Proceeds will be used to accelerate the advancement of Rubius’ breakthrough Red-Cell Therapeutics™ product portfolio, to further build out the team and to prepare to enter human clinical trials in 2018. This financing follows the successful achievement of several key milestones, including the clinical scale production of cultured red cells in bioreactors and the generation of preclinical proof-of-concept data for several lead programs.