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 from April 01 — May 31, 2017.
Latest capital market and finance updates compiled from April 01 — May 31, 2017, scheduled to be published in Volume 12 Issue 6 of Regenerative Medicine.
Frequency Therapeutics
Frequency Therapeutics (CT, USA; www.frequencytx.com) has closed a US$ 32 million series A round. Founded in 2015, Frequency is developing small-molecule drugs that will restore healthy tissue by activating progenitor cells. It is currently focusing on therapies that will treat noise-induced hearing loss by recreating sensory hair cells in the inner ear.
Organogenesis
Organogenesis (MA, USA; www.organogenesis.com) has entered into a revolving line of credit agreement with Silicon Valley Bank (SVB). This agreement provides US$ 25 million of new capital to the company to be used for working capital and general corporate purposes. In addition, the company closed a $20 million financing facility with Eastward Capital Partners (MA, USA; www.eastwardcp.com).
Plasticell
Plasticell (UK; www.plasticell.co.uk) has secured Biomedical Catalyst funding of over £920,000 from Innovate UK (UK; www.innovateuk.org) to create a safe, effective red blood cell substitute for human clinical transfusion. The project is part of Plasticell’s hematopoietic cell therapy portfolio, which includes the expansion of umbilical cord- and bone-derived hematopoietic stem cells, and the manufacture of blood platelets and immune cells for oncology applications.
Sentien Biotechnologies
Sentien Biotechnologies (MA, USA; www.sentienbiotech.com) has closed a $12 million Series A investment round. The Series A round will be used to fund initial clinical development of Sentien’s SBI-101 for the treatment of acute kidney injury (AKI). SBI-101 is a combination product that combines mesenchymal stromal cells (MSCs) within an approved blood-filtration device, allowing for controlled, sustained delivery of MSC-secreted factors. SBI-101 offers two major advantages over traditional cell therapy: (1) The duration of cellular therapeutic activity is extended significantly by housing the MSCs in an extracorporeal device and; (2) The MSC dosage limitations encountered during injection or intravenous infusion are overcome.
U.S. Stem Cell
U.S. Stem Cell (FL, USA; www.us-stemcell.com) has received a commitment to invest up to US$ 5 million from private equity firm General American Capital Partners LLC (GACP) in exchange for up to 63,873,275 shares of common stock.
Vivex Biomedical
Vivex Biomedical (CA, USA: www.vivex.com) has received a US$ 9 million line of credit and other financial services from the Heritage Bank of Commerce to support their growth in the biomedical industry. Vivex’s focuses include amniotic fluid therapy, viable allogenic bone allografts, and amniotic tissue matrices.