Cellular Dynamics International, Inc., a Madison, Wisconsin-based industrial manufacturer of human induced pluripotent stem cells (iPSCs) and tissue cells, has closed a $30m Series B private equity round.
The financing was led by an entity affiliated with Tactics II Stem Cell Ventures, with participation from Sam Zell’s Equity Group Investments LLC, Sixth Floor Investors LP and G Force Investments LLC.
CDI has raised a total of $100m since 2004.
The company intends to use the funds to launch new iCell® iPSC lines as well as iCell Endothelial Cells, iCell Neurons, and iCell Hepatocytes lines for biomedical and pharmaceutical drug development and safety research, as well as continue to increase production capacity for its iCell Cardiomyocytes.
CDI also plans to continue to expand its commercial organization.
Founded by CSO James A. Thomson, and led by Chairman and CEO Robert Palay, the company develops and markets stem cell technologies for drug development and personalized medicine applications.