TLDR:
- Cell BioEngines, Inc. secures an additional $2 million in funding from SOSV and Empire State Development’s New York Ventures.
- The funding will support the company’s first multicenter clinical trial aimed at hematological cancer patients.
Cell BioEngines, Inc., a New York-based company specializing in stem cell research for developing new cell therapies, has secured an additional $2 million in funding. The company raised $1.75 million from SOSV and the Partnership Fund through a new therapeutics seed track, along with $0.25 million from Empire State Development’s NY Ventures. This funding reflects strong growth and investor confidence in Cell BioEngines’ innovative approach to advancing cell therapies.
The funds will support the company’s first multicenter clinical trial, intended for hematological cancer patients who are unable to find a donor and seeking an alternative to HLA-haploidentical blood stem cell transplants. The trial will focus on CBE-101, a novel approach utilizing cord blood-derived hematopoietic cell therapy. Cell BioEngines aims to deliver ‘off-the-shelf’ cell-based therapies to patients.
Founded in December 2022, Cell BioEngines is a clinical-stage biotech company with a focus on developing allogeneic ‘off-the-shelf’ stem cell-derived therapies for human disease treatment. The company’s proprietary platform technology utilizes universal ‘non-gene-modified’ donor blood stem cells obtained from umbilical cord to produce clinical-grade cells at scale.
Dr. Ajay Vishwakarma, Founder and CEO of Cell BioEngines, expressed optimism about the company’s growth and the investor confidence it has garnered. The additional funding will enable Cell BioEngines to advance its clinical trials and further its mission of providing innovative cell therapies to patients in need.
