Additional capital was raised to support global expansion efforts since the first Series B round announcement in August 2019.
FREDERICK, MD. (PRWEB) SEPTEMBER 10, 2019
RoosterBio Inc, disrupting the market by radically simplifying human mesenchymal stem/stromal cell (hMSC) biomanufacturing, today announced it has raised further capital in the final tranche of its Series B raise, boosted by increased investor demand. The news comes after the company announced its first round close in of $15 million in August 2019, bringing the total fundraise to $21.5 million to help advance the company’s global expansion initiatives. Led by lead Series B investor Dynamk Capital, Founding Partner for Dynamk Capital Daniella Kranjac has also been appointed to RoosterBio’s Board of Directors.
The Series B round includes the addition of investors Vanedge Capital, Bioeconomy Capital and others. Partner at Vanedge Capital Micah Siegel said, “Technology for creating living cell therapies is at an inflection point, yet manufacturing engineered cells at scale is still an unsolved problem. We discovered RoosterBio through their customers, who were fanatical about the company’s high quality, high volume products and delightful customer service. Vanedge invests in companies with disruptive technology platforms in large markets that are undergoing rapid growth or change. We believe that RoosterBio could become one of the most important stem cell manufacturing companies in the world.”
Rob Carlson, Managing Director at Bioeconomy Capital shared similar statements about RoosterBio’s capabilities. “RoosterBio is a true pioneer in the field of regenerative medicine. With a novel business model of democratizing their hMSC biotechnology platform and making it more readily available by decreasing the cost and complexity required to incorporate the cells into regenerative medicine products, the future of cell therapy continues to show remarkable promise,” said Carlson. “We look forward to working with them to help fuel the commercialization of scalable regenerative cures.”
Chief Executive Officer for RoosterBio Margot Connor concluded, “We are excited to have accomplished the business milestones needed to close on this major capital formation step. As a result of this funding – along with new investors, dedicated employees and a dynamic Board of Directors – we are well-positioned to grow more aggressively internationally, expand into new product types and accelerate the promising field of regenerative medicine.”
RoosterBio was founded in 2013 with the mission to accelerate the cell-based bioeconomy by providing a standardized MSC product platform that helps enable rapid and clinical commercial translation. With 51 current employees, RoosterBio plans to add 20 additional employees by the end of 2019 and approximately double employment in 2020 to support the global growth of its team and presence in worldwide markets. To learn more about RoosterBio, visit http://www.roosterbio.com.
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 on RoosterBio, please visit http://www.roosterbio.com.
Vanedge invests in companies with disruptive technology platforms in large markets that are undergoing rapid growth or change. We believe that RoosterBio could become one of the most important stem cell manufacturing companies in the world. – Micah Siegel, Partner, Vanedge Capital