Aivita Biomedical, an Irvine, Calif.-based global biotech specializing in innovative stem cell applications, raised $15m in a Series B financing.
The financing was provided by SFC Co. Ltd., a South Korean investor that is listed on the KOSDAQ Stock Exchange.
The company will use the funds to advance its clinical-stage programs, broaden its consumer product offerings and bring in additional staff.
Led by Dr. Hans Keirstead, CEO, Aivita Biomedical is engaged in the advancement of commercial and clinical-stage programs utilizing curative and regenerative medicines. The company utilizes its expertise in stem cell growth and directed, high-purity differentiation to enable manufacturing systems which support its commercial line of skin care products and therapeutic pipeline.
Aivita has both clinical and commercial programs. Its lead therapeutic candidate is a novel patient-specific immunotherapy for the treatment of advanced cancers, currently being used to treat ovarian cancer. The company has also launched a consumer skincare line, ROOT OF SKIN™, which mimics the environment of developing skin. Its proprietary actives complex, SourceCode Technology™, is exclusively manufactured in its clinical-grade research facilities and available only in ROOT OF SKIN™ products.