New Funding, Anticipated to Close at $22 Million, to Fuel Growth of its Regenerative Medicine MSC Manufacturing Platform Worldwide, Scale the Organization, and Accelerate R&D Innovation
Frederick, MD, Aug. 6, 2019 /PRNewswire-PRWeb/ -- RoosterBio Inc, disrupting the market by radically simplifying human mesenchymal stem/stromal cell (hMSC) biomanufacturing, today announced it has raised in excess of $15 million in an initial Series B financing round led by Dynamk Capital. Existing and new investors exhibited strong investment interest, leading to an oversubscribed round. The Series B final round is expected to close with additional investors by the end of August, totaling approximately $22 million raised. The investment will be used to expand and scale the RoosterBio team as its customer base continues to grow internationally, while bolstering research and development for their transformative next generation cell and gene therapy solutions. This funding round represents the powerful partnership between a venture team of industry experts specifically targeting creative life science industrials developing technologies and business models that change the paradigm of biopharmaceutical research, development and biomanufacturing.
"It is critical that we empower scientists to get innovative products to the market more efficiently in order to develop life-saving cures," said Daniella Kranjac, Founding Partner of Dynamk Capital. "RoosterBio's pioneering biotechnology platform is driving the revolutionary field of regenerative medicine which has the potential to develop therapies for previously untreatable diseases and conditions. We look forward to helping RoosterBio scale their business and make their technology more broadly available."
There are more than 900 mesenchymal stem/stromal cell (MSC) clinical trials underway worldwide, according to the National Institutes of Health, U.S. National Library of Medicine (July 2019), with greater than 160 trials initiated globally in 2018 alone. The MSC is the most common stem cell type used in regenerative medicine, but high quality hMSCs have traditionally been a scarce resource in the field, slowing clinical progress. RoosterBio was founded in 2013 to address this bottleneck by taking a unique approach towards this market, and has successfully transitioned hMSCs from a scarce to an abundant resource by increasing their availability and manufacturability, subsequently decreasing the cost and the complexity required to incorporate these active living cells into regenerative medicine products. RoosterBio's novel business model of democratizing access to a key technology has been proven successful in countless other industries and is much needed in the cell and gene therapy space where innovators struggle to develop industrial platforms and a robust supply chain.
"Our investors' show of confidence reinforces our mission to fuel the rapid commercialization of scalable regenerative cures," said Margot Connor, CEO of RoosterBio. "Through a combination of technical and business model innovation, RoosterBio is delivering on the promise of scalable bioprocess manufacturing, while growing rapidly within the enormous opportunity that is regenerative medicine. We are eager to leverage this financing to propel global and organizational growth, in partnership with Dynamk Capital and our other strategic investors."
About RoosterBio, Inc
RoosterBio, Inc. is a privately held cell manufacturing platform technology company focused on accelerating the development of a sustainable regenerative medicine industry, one customer at a time. RoosterBio's products are high-volume, affordable, and well-characterized adult human mesenchymal stem/stromal cells (hMSCs) paired with highly engineered media systems. RoosterBio has simplified and standardized how stem cells are purchased, expanded, and used in development, leading to marked time and costs savings for customers. RoosterBio's innovative products are ushering in a new era of productivity and standardization into the field, accelerating the road to discovery in Regenerative Medicine. For more information, visit http://www.roosterbio.com.
About Dynamk Capital
Dynamk Capital LLC is a venture capital firm investing in early stage life sciences companies. Dynamk's investment strategy is centered on identifying companies developing disruptive technologies, tools, and services that enable the full biopharma continuum across discovery, development, and manufacturing of therapeutics. The Dynamk team includes experienced life science entrepreneurs, investors, advisors, and subject matter experts. Please visit http://www.dynamk.vc for more information.