Xcell Biosciences, a San Francisco, CA-based provider of an advanced primary cell culturing platform, closed a $12m Series A private equity financing round.
The round was led by HBM Genomics with participation from all major existing investors. In conjunction with the funding, Saeid Akhtari, Managing Director of HBM Genomics, will join Xcell Biosciences’ Board of Directors.
The company intends to use the funds to launch its commercial platform worldwide, including expanding its US sales force and worldwide commercial reach.
Led by Brian S. Feth, Chief Executive Officer, Xcell provides scientists in important fields including cancer research, immunology, stem cell biology, and cell therapy development with a primary cell culturing platform, the Avatar™ system, which enables propagation and gene editing in hard to transfect cell types. The Avatar platform is currently being used for translational research, clinical diagnostics development, and cell therapy applications.