- RoosterBio, a company that is simplifying human mesenchymal stem/stromal cell (hMSC) biomanufacturing, announced it has raised $21.5 million.
RoosterBio — a company that is radically simplifying human mesenchymal stem/stromal cell (hMSC) biomanufacturing — announced that it has raised further capital in the final tranche of its Series B raise.
“We are excited to have accomplished the business milestones needed to close on this major capital formation step. As a result of this funding – along with new investors, dedicated employees and a dynamic Board of Directors – we are well-positioned to grow more aggressively internationally, expand into new product types and accelerate the promising field of regenerative medicine,” said RoosterBio chief executive officer Margot Connor.
This news comes on the heels of RoosterBio announcing its first-round close in of $15 million in August 2019 and brings the total raise to $21.5 million in order to help advance the company’s global expansion initiatives.
This round was led by Series B investor Dynamk Capital. And Dynamk Capital founding partner Daniella Kranjac has also been appointed to RoosterBio’s Board of Directors. And the funding round also includes the addition of investors Vanedge Capital, Bioeconomy Capital, and several others.
“Technology for creating living cell therapies is at an inflection point, yet manufacturing engineered cells at scale is still an unsolved problem. We discovered RoosterBio through their customers, who were fanatical about the company’s high quality, high volume products and delightful customer service. Vanedge invests in companies with disruptive technology platforms in large markets that are undergoing rapid growth or change. We believe that RoosterBio could become one of the most important stem cell manufacturing companies in the world,” added Vanedge Capital partner Micah Siegel.
Launched in 2013, RoosterBio has a mission to accelerate the cell-based bioeconomy by providing a standardized MSC product platform that helps enable rapid and clinical commercial translation. RoosterBio has 51 current employees and the company is planning to add 20 additional employees by the end of 2019 and approximately double employment in 2020 to support the global growth of its team and presence in worldwide markets.
RoosterBio’s products are considered high-volume, affordable, and well-characterized adult human mesenchymal stem/stromal cells (hMSCs) paired with highly engineered media systems. And RoosterBio simplified and standardized how stem cells are purchased, expanded, and used in development, leading to marked time and costs savings for customers.
“RoosterBio is a true pioneer in the field of regenerative medicine. With a novel business model of democratizing their hMSC biotechnology platform and making it more readily available by decreasing the cost and complexity required to incorporate the cells into regenerative medicine products, the future of cell therapy continues to show remarkable promise,” explained Bioeconomy Capital managing director Rob Carlson. “We look forward to working with them to help fuel the commercialization of scalable regenerative cures.”
Trending on Pulse 2.0
- Microsoft Sets Up An Innovation Hub In Noida, India
- Starbucks: Brady Brewer To Oversee Digital Experiences And Brand Management As New CMO
- Marie Myers Has Joined The KLA Board Of Directors
- Why Arista Networks Is Buying Big Switch Networks
- Phil Clement To Implement Global Marketing Strategies At Johnson Controls As New CMO