Ossium Health, a San Francisco, CA-based bioengineering company developing a bank of on-demand bone marrow, raised $52m in Series C funding.
The round was led by CPMG, with participation from Vivo Capital, First Round Capital, Manta Ray Ventures, Alumni Ventures, and Asahi Kasei.
The company will deploy this funding to grow its proprietary bone marrow bank, build on existing clinical trials, and accelerate new product development. This round will also support the launch of Ossigraft™, an orthopedic product for the repair, replacement, and reconstruction of musculoskeletal defects. This product is derived from the same vertebral bodies as Ossium’s other products, and provides another opportunity to honor the precious gift of donated tissue. This product is slated to enter the clinic in the second half of 2023.
Founded in 2016, Ossium Health is a bioengineering company that leverages its proprietary organ donor bone marrow banking platform to develop stem cell therapies for patients with life-threatening blood and immune diseases. Its recovery process ensures that the bone marrow is phenotypically and functionally equivalent to cells from living donors. The product is then cryopreserved and stored indefinitely until requested by a treating physician.
The company works with Organ Procurement Organizations (OPOs) that represent just over half of all organ donors in the U.S. to recover viable vertebral bodies for bone marrow and orthopedic donations. It is an FDA-Registered Tissue Bank, is accredited by the Commission on Office Laboratory Accreditation (COLA), and its laboratory is certified under the Clinical Laboratory Improvement Amendment (CLIA).
Ossium is led by Kevin Caldwell, its CEO, Co-Founder & President, and Erik Woods, its Chief Science Officer, Co-Founder & EVP.
FinSMEs
25/07/2023