Cell BioEngines, a NYC-based company researching stem cells in order to develop new cell therapies, raised additional $2M in funding.

The round consisted of $1.75M from SOSV and the Partnership Fund, and $0.25M from Empire State Developments NY Ventures, the states venture capital arm through the Pre-Seed and Seed Matching Fund Program.

The company intends to use the funds to expand operations and its R&D sector.

Led by CEO Dr. Ajay Vishwakarma, Cell BioEngines is a clinical-stage biotech company focused on developing allogeneic off-the-shelf stem cell-derived therapies as drugs for human disease treatment. It leverages its proprietary platform technology using universal non-gene-modified donor blood stem cells obtained from umbilical cord to produce clinical grade cells at scale.

Commenting on the news, Ajay Vishwakarma said: The funds will support our first multicenter clinical trial, aimed at hematological cancer patients unable to find a donor and seeking an alternative to HLA-haploidentical blood stem cell transplants. CBE-101 represents a novel approach with expanded cord blood-derived hematopoietic cell therapy, aligned with Cell BioEngines vision to deliver off-the-shelf cell-based therapies to patients.

FinSMEs

22/07/2024

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Cell BioEngines Raises Additional $2M in Funding - FinSMEs