Pluristyx Announces Major New Funding Round to Bolster Expansion Plans

SEATTLE--(BUSINESS WIRE)--Pluristyx, a leading provider of tools, technologies and services for the development of cell therapies, has today announced the closing of a major fundraising round led by BroadOak Capital Partners. The oversubscribed funding round also featured participation from existing investors and key opinion leaders across the life sciences industry.

This infusion of capital enables Pluristyx to expand its existing cGMP cell line and service portfolio and broaden partner access to Pluristyx’s revolutionary panCELLa platform. This reduces the time and cost to get to the clinic for stem cell therapeutic companies by up to 80%. As part of the round, Pluristyx is pleased to announce the addition of two experienced life sciences executives, Bryan Poltilove and Jeffrey Allen, to the company as strategic advisors.

“We are dedicated to becoming the reference partner for biotech companies developing iPSC therapies and today’s announcement brings us one step closer to achieving our goal,” said Dr Benjamin Fryer, Pluristyx’s CEO. “2023 was a remarkable year for us with the launch of our PluriBank pre-edited, clinical-grade, iPSC lines, and the signing of several major license and service agreements with industry leaders. In 2024 we are expanding our capacity and making more best-in-class tools for therapeutic development available to our customers. We appreciate the support of our investors and strategic advisors, and together we will accelerate the development of cell therapy technologies to deliver tomorrow’s cures, today.”

“Pluristyx has developed an impressive portfolio of engineered cell lines, technologies, and services to address the large unmet needs of iPSC therapeutic developers,” said Daniel Friedman, Vice President at BroadOak. “We are delighted to partner with Dr. Fryer and the leadership team to support the company at this inflection point for the stem cell therapy industry.”

About Pluristyx

Pluristyx, through its panCELLa platform, offers a portfolio of unique iPSC-based technologies, proprietary genetic engineering, and related tool-products and services to provide end-to-end client support throughout the products’ lifecycle. Pluristyx is fast becoming the leading provider of gene-edited iPSC and cell therapy solutions, accelerating customers’ path to clinic, and providing the best and fastest route to commercialization for cell-based therapeutic products. For more information on Pluristyx, please visit www.pluristyx.com.

About BroadOak

BroadOak Capital Partners is a life sciences-focused, boutique financial institution that provides direct investments through BroadOak Asset Management, and investment banking services through BroadOak Partners, to companies in the life sciences tools, diagnostics, and biopharma services sectors. BroadOak Partners has made investments in more than 60 companies and advised on over 50 successful M&A transactions. For more information, visit broadoak.com.