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NYBC Ventures Launches $50M Fund to Accelerate Innovations in Blood and Cellular Therapies

BOSTON, May 11, 2023--(BUSINESS WIRE)--NYBC Ventures, today announced the launch of its inaugural fund with a $50 million investment from New York Blood Center, Inc. (NYBC) to accelerate innovation in blood-related fields, and cellular therapies and enabling technologies. NYBC Ventures is an early-stage life sciences investment fund that will focus on investment in therapeutics, devices, and innovative technologies addressing the most pressing challenges in benign hematology, transfusion medicine, and infectious disease. The Fund’s mission is also to improve patients’ lives by advancing therapeutics, enabling platforms and technologies as well as drive strategic collaborations to further NYBC’s impact.

Founded more than 60 years ago, New York Blood Center provides lifesaving blood products, pharmaceuticals, high-quality clinical and laboratory services, and transfusion expertise to leading medical institutions in the U.S. New York Blood Center’s Lindsley F. Kimball Research Institute (LFKRI) is one of the world’s preeminent blood research organizations and has paved the way for new blood-related products, services, and therapies.

"This is the first venture fund solely dedicated to advancing innovation in blood and cell-based therapies and technologies," said Christopher D. Hillyer, M.D., President and CEO, New York Blood Center Inc.; General Partner, NYBC Ventures. "NYBC Ventures provides companies more than capital, offering access to world-renowned researchers and their labs, cell manufacturing capacity and source materials."

"NYBC Ventures is dedicated to supporting early-stage innovation that will drive the next generation of transformative therapies to improve patient care and outcomes," said Meg Wood, MPH, Managing Director. "With our deep expertise in blood and cellular therapies, we are a trusted partner to founders who are solving some of healthcare's biggest challenges, from new approaches to drug delivery and discovery, to the development of life-saving therapies. Our team is driven by mission-oriented innovation to make a positive impact on the world."

NYBC Ventures employs a model of patient capital and takes a flexible approach to financing vehicles and structures. The fund has developed streamlined scientific and due diligence teams to evaluate investment opportunities.

NYBC Ventures is managed by an experienced deal team led by Christopher D. Hillyer, M.D, General Partner, Jay Mohr, General Partner, and Meg Wood, MPH, Managing Director, who collectively bring deep expertise in basic and clinical research, capital-raising, business and corporate development, and operations, from startups to complex organizations. The team works collaboratively with New York Blood Center’s deep roster of researchers, manufacturing teams, and operations colleagues.

The fund’s current portfolio includes Catena Biosciences, HealthQuest Capital, KaloCyte, Thymmune Therapeutics, StealthCo, and STRM Bio.

About NYBC Ventures

NYBC Ventures is an early-stage life sciences investment fund dedicated to accelerating innovations in blood and cellular therapies, and related technologies. The fund will invest in therapeutics, devices and innovative technologies addressing the most pressing challenges in our areas of focus. The fund’s mission is to improve patients’ lives by advancing therapeutics, enabling platforms and technologies as well as driving collaborations to further NYBC’s impact. For more information, visit nybcventures.org.

About New York Blood Center

Founded in 1964, New York Blood Center (NYBC) is a nonprofit organization that is one of the largest independent, community-based blood centers in the world. NYBC, along with its operating divisions Community Blood Center of Kansas City, Missouri (CBC), Innovative Blood Resources (IBR), Blood Bank of Delmarva (BBD), and Rhode Island Blood Center (RIBC), collect approximately 4,000 units of blood products each day and serve local communities of more than 75 million people in the Tri-State area (NY, NJ, CT), Mid Atlantic area (PA, DE, MD, VA), Missouri and Kansas, Minnesota, Nebraska, Rhode Island, and Southern New England. NYBC and its operating divisions also provide a wide array of transfusion-related medical services to over 500 hospitals nationally, including Comprehensive Cell Solutions, the National Center for Blood Group Genomics, the National Cord Blood Program, and the Lindsley F. Kimball Research Institute, which — among other milestones — developed a practical screening method for hepatitis B as well as a safe, effective and affordable vaccine, and a patented solvent detergent plasma process innovating blood-purification technology worldwide. For more information, visit nybce.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230511005010/en/

Contacts

Media
Kimberly Ha
KKH Advisors
917-291-5744
kimberly.ha@kkhadvisors.com

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