SynGen, a Sacramento, CA-based regenerative medicine device company, has completed a $5m Series A financing with Bay City Capital.
Led by Phil Coelho, president and CEO, SynGen invents and commercializes products that uses single-use sterile plastic cartridge disposables mated to dedicated, highly automated electromechanical medical devices to isolate and capture stem and progenitor cells from peripheral and umbilical cord blood, bone marrow, and adipose tissue. Application include diagnostic, research, and clinical processes.
The company intends to use the funding to accelerate the commercialization of its SynGen-1000 platform product (http://syngeninc.com/ProductPipeLine.htm), initially making it available to cord blood banks. SynGen expects to file for 510(k) clearance with the FDA and to achieve CE marking for the SynGen-1000 in the near future. Subsequently, its designs will target emerging markets including stem cell research centers, hospitals practicing cell therapy in surgical suites and stem cell clinical trials.
In conjunction with the funding, BCC will appoint two representatives to the company’s board of directors.