- Slingshot Biosciences announced it raised $11 million. These are the details.
Slingshot Biosciences – a biotechnology company building the world’s first on-demand synthetic cell platform for customizing cell and cell line mimics – announced the closing of $11 million in a Series A3 financing. This investment was co-led by ARCH Venture Partners and Northpond Ventures, with participation from Anterra Capital.
The new funding will be used for enabling Slingshot to accelerate the successful commercialization of its revolutionary technology for cell and gene therapies. And Slingshot will also further its adoptive cell therapy and therapeutics platform with this financing.
The cell-derived products are essential to healthcare technologies worldwide. Seven hundred and fifty (750) blood samples are tested every second in the U.S. alone, and each of these tests relies on cell-derived references for accurate measurement.
With this additional funding, Slingshot is developing the next generation of adoptive cell therapy tools and therapeutic modalities that can benefit from its synthetic cell platform. Slingshot is also going to further invest in its functional cell programs for biopharma applications.
KEY QUOTES:
“Slingshot’s synthetic cell platform will have a transformative impact on a wide range of critical healthcare markets, including cell and gene therapy. All of us at ARCH are excited to work with the Slingshot team to make these synthetic cell products widely accessible to address research, diagnostics, and manufacturing needs, while advancing their functional synthetic cell efforts.”
— Corey Ritter of ARCH Venture Partners
“After successfully building our commercial footprint in controls and diagnostics last year, we are thrilled to accelerate our strategic efforts for biopharma applications, specifically cell and gene therapies. Customer traction is phenomenal, and we are excited to double down on our commercialization and development efforts for cell and gene therapy customers.”
— Jeffrey Kim, PhD, Founder, CEO, and President of Slingshot
