HemoShear, a Charlottesville, Virginia-based human disease biology company, completed an $8.7m C-1 equity funding.
The company intends to use the funds to relocate operations to facilities in Charlottesville, support future expansion, accelerate development of human disease systems, including those for tumors and rare diseases, as well as recruit scientific and bioinformatics expertise.
Led by Jim Powers, CEO, HemoShear develops and applies human disease systems to create more effective therapies for patients. By integrating proprietary technology, scientific expertise and advanced discovery and predictive analytics, the company leverages biological systems to uncover new targets, resolve previously unknown mechanisms, identify novel attributes of drugs and select candidates with superior efficacy and safety profiles.
Founded in 2008, HemoShear has raised a total of $22m in private equity financing, $10m in funding from NIH and other state and federal sources. In addition to private and public sources, partnerships with major pharmaceutical and biotechnology companies have been an important source of funding to expand its scientific platform and business base.