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 Development’s NY Ventures, the state’s 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