EMERYVILLE, Calif.--(BUSINESS WIRE)--Slingshot Biosciences, a biotechnology company building the world’s first on-demand synthetic cell platform, today announced the closing of $23 million in a Series A financing. The investment was led by Northpond Ventures, with participation from ARCH Venture Partners and Anterra Capital. The new funding will enable Slingshot to accelerate the commercialization of its synthetic cell products spanning controls, diagnostics, and adoptive cell therapies. Adam Wieschhaus, PhD, Director at Northpond Ventures, and Corey Ritter, Senior Associate at ARCH Venture Partners, will join the Board of Directors. Slingshot will also invest heavily in its broader adoptive cell therapy and therapeutics platform with this growth financing.
“By eliminating supply chain and technical constraints for cell-derived products, we aim to fundamentally improve the accessibility of key healthcare technologies that have historically been limited to specific markets and indications. We are thrilled to begin commercializing these products in multiple verticals in partnership with investors that have a history of building game-changing technologies,” said Jeffrey Kim, PhD, Founder, CEO, and President of Slingshot.
Cell-derived products comprise the basis of important healthcare technologies worldwide. With respect to diagnostics, 750 blood samples are tested every second in the U.S. alone, and each of these samples relies on cell-derived references for accurate measurement. In addition, unlike most traditional pharmaceutical modalities, adoptive cell therapies critically depend on cell-derived control material, often self-generated, in order to assess manufacturing performance and product quality. Historically, cell-derived reagents have been sourced from donors, both human and animal, to meet these needs, leading to supply chain constraints, high cost, and unwanted variability. Operating in stealth since 2012, Slingshot focused its platform on tackling these issues while achieving key manufacturing milestones before launching its first suite of products in 2020.
“With its highly tunable synthetic cell platform, Slingshot is setting a new standard for control cell production, ensuring even the rarest diseases can be accurately profiled,” said Adam Wieschhaus, PhD, Director at Northpond Ventures. “All of us at Northpond are passionate about working alongside the Slingshot team to make these synthetic cell products easily accessible to address research, diagnostics, and manufacturing needs.”
With this additional financing, Slingshot is aiming its technology at the next generation of adoptive cell therapy tools and therapeutic modalities that can benefit from its synthetic cell engineering platform.
About Slingshot Biosciences
Slingshot Biosciences develops synthetic cells for a range of applications in diagnostics and therapeutics. Slingshot leverages advances in distributed manufacturing, engineering, and polymer chemistry to provide an industry-first, off-the-shelf solution for cell-like reagents that are stable, low-cost, and targeted toward a range of indications and markets. Learn more at www.slingshotbio.com.
About Northpond Ventures
Northpond Ventures is a science-driven venture capital firm. Northpond partners with leading scientists, academics, and entrepreneurs to develop and empower breakthrough science and technology that transforms humanity. The firm has over $1 billion in committed capital and offices in San Francisco, Cambridge, and Bethesda. Northpond was founded with a mission to build a better tomorrow.
Northpond Labs, the firm’s research and development-focused affiliate, collaborates with universities, research centers, and scientists to fund translational research that is poised to be the foundation of new ventures and scientific discovery.
Learn more at www.npv.vc.
About ARCH Venture Partners
ARCH Venture Partners invests in advanced technology companies and is one of the largest early stage technology venture firms in the United States. The firm is a recognized leader in commercializing technologies developed at academic institutions, corporate research groups and national laboratories. ARCH creates and invests in companies with leading scientists and entrepreneurs, bringing innovations in life sciences and physical sciences to market.
Learn more at www.archventure.com.
About Anterra Capital
With offices in Amsterdam and Boston, Anterra Capital is an international specialist venture capital investor dedicated to financing the growth of technology-driven companies with transformative potential in food, agriculture, and animal health. Supported by multinational institutional investors, Anterra provides patient strategic capital to entrepreneurs and innovative companies sustainably transforming our global food system.
Learn more at www.anterracapital.com.