RoosterBio Inc, a Frederick, MD-based company developing tools to simplify human mesenchymal stem/stromal cell (hMSC) biomanufacturing, raised $6.5m in the final tranche of its Series B raise.
The company had announced its first round close in of $15m in August 2019, bringing the total fundraise to $21.5m.
The round was led by Dynamk Capital, with founding Partner Daniella Kranjac appointed to RoosterBio’s Board of Directors, with participatrion from Vanedge Capital, Bioeconomy Capital and others.
The funding will help the company advance its global expansion initiatives.
Founded in 2013 and led by Chief Executive Officer Margot Connor, RoosterBio aims 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, the company 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.