PlateletBio Completes $75.5 Million Financing to Advance Cell Therapy Platform
November 4, 2021
PlateletBio, a preclinical-stage biotechnology company pioneering a new platform of allogeneic cell therapies based on platelet biology, said it has raised $75.5 million in a series B financing to support the preclinical development and IND filing of its lead program and the expansion of cell therapy platform.
The round includes new investors SymBiosis, K2 HealthVentures, and Oxford Finance as well as participation from existing investors Ziff Capital Partners and Qiming Venture Partners.
“This is a major milestone for PlateletBio, adding capital and resources needed to advance our innovative platelet-like cell therapy science and manufacturing platform and support key corporate initiatives over the next 18-24 months,” said Sam Rasty, president and CEO of PlateletBio.
The company will use the proceeds to continue preclinical development of its lead platelet-like cell (PLC) program as a novel therapy for immune thrombocytopenia (ITP), a rare autoimmune disease, characterized by isolated thrombocytopenia (low platelet count), in the absence of any underlying disorder that may be associated with thrombocytopenia. ITP exposes to a risk of bleeding.
Proceeds will also be used to further develop the company’s engineered PLC (ePLC) platform and advance its proprietary manufacturing capabilities. The platform is inspired by the biological function and versatility of platelets, for safer, more effective cell therapies for applications in autoimmune diseases, hematology, and inflammation. Its cell therapy platform produces “platelet-like cells” (PLCs) capable of performing vital biological functions and able to be genetically engineered into multiple allogeneic cell therapies.
Concurrent with closing the new financing round, PlateletBio has expanded its Board of Directors with the addition of Chidozie Ugwumba, managing partner of SymBiosis.
Author: Rare Daily Staff
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