SAN ANTONIO--(BUSINESS WIRE)--Privately-held StemBioSys, Inc., based in San Antonio, closed on a fully subscribed $8 million Series A Preferred Stock financing on April 1st, 2015.
According to StemBioSys CEO Bob Hutchens, the company is investing the proceeds primarily in a GMP manufacturing facility and market preparations for a mid-2015 launch of its proprietary and novel advanced stem cell culture system -- HPMETM (High Performance Microenvironment) -- for sale in the stem cell research market.
“StemBioSys is actively pursuing therapeutic applications for its products and is currently engaged in more than 14 strategic partner collaborations focused on the feasibility of therapeutic applications using the company’s patented core technologies,” Hutchens said. “In addition, we have initiated multiple collaborative, sponsored research agreements with leading academic institutions to further validate the utility of the HPMETM technology. These include The University of Texas Health Science Center at San Antonio, University of Texas at San Antonio, and Langer/Anderson Laboratories at MIT.”
“We are thrilled to see this extraordinary level of investor validation and confidence in our technology and prospects,” StemBioSys Board Chair Cathy Burzik said. “Our company was founded in 2010, and we have made great strides in the development of our proprietary technology and our business model. Closing this new preferred stock series provides us with significant capital needed to push through this next phase of corporate development.”
Targeted Technology Fund, also of San Antonio Texas, led the financing with an investment of $2.25m followed by more than 50 Angel investors to close out the round.
Hutchens said StemBioSys has plans for a Series B financing in late 2015/early 2016 to complete the commercial launch of the HPMETM research product and continue to explore therapeutic applications for its proprietary novel technologies.
The HPMETM technology replicates the 3-dimensional “home” in which stem cells naturally reside and proliferate. This unique technology enables users to isolate and grow stem cells from a variety of sources including but not limited to adipose, bone marrow and umbilical cord blood/tissue. The 3-dimensional microenvironment allows a variety of stem cells to replicate more rapidly and with greater preservation of stem cell phenotype (“stemness”) than traditional tissue culture plastic. It has allowed StemBioSys to efficiently grow stem cells from sources such as adipose tissue, bone marrow, and umbilical cord blood and tissue opening up potential for research, pharmaceutical and novel clinical uses.
About StemBioSys, Inc.
Stem cells are the future of medicine. We are the future of stem cells. StemBioSys is located in San Antonio, Texas, proximate to the University of Texas Health Science Center at San Antonio from which we have licensed proprietary and disruptive technology for the enhanced isolation, growth, and delivery of stem cells for research, diagnostic and therapeutic applications.