Platelet BioGenesis, Inc. (PBG), a Cambridge, Mass.-based leader in stem cell-derived, on-demand human platelets (PLTs+™) and platelet-based therapeutics, raised more than $26m in Series A-1 financing.
The round, which brought total funding to approximately $45m, was co-led by Ziff Capital Partners (ZCP) and Qiming Venture Partners USA with participation from Nest.Bio Ventures and eCoast Angels, among others. In conjunction with the funding, Steven Altschuler, M.D., Managing Director of Ziff Capital Partners and Chairman of Spark Therapeutics, joined PBG’s Board of Directors.
The company intends to use the funds to:
– accelerate the development of its donor-independent platelet manufacturing capabilities and advance its proof of concept work around platelet-based therapeutics, and
– double its staff to approximately 50 employees in 2020.
Led by Sam Rasty, Ph.D., President and CEO, Platelet BioGenesis has created a platform that can generate human platelets at scale. The stem cell-derived, on-demand platelets will be the first donor-independent source of platelets to address the chronic shortage worldwide. The company is also developing platelet-based therapeutics, a new treatment modality for cancer and other life-threatening diseases.
Platelet BioGenesis was spun out of Harvard University.