Thu. Aug 18th, 2022

Gift of Life Biologics Closes Seed $6m Funding Round, Illustrating Investor Confidence in Future Demand for Cell & Gene Therapy Starting Material

Round led by world renowned pharmaceutical company as well as investment fund Three Bridges Private Capital

  • $6m seed funding round closed Q1 2022.
  • Multidisciplinary Board of Directors and officers elected to serve key roles.
  • Commercialization of initial cellular starting material products effectuated in Q4 2021.
  • Receipt of Institutional Review Board (IRB) approval for procurement of mononuclear cells and mobilized stem cells in Q4 2021 and Q1 2022.
  • Gift of Life operates a vertically integrated, 32,000 sq. ft. facility in South Florida including a donor center, high capacity apheresis collection facility and cellular therapy laboratory and biobank.

BOCA RATON, Fla., April 13, 2022 /PRNewswire/ — Gift of Life Biologics Inc. (“GOLB” or the “Company”), a vertically integrated supplier of allogeneic cellular starting material to the biopharmaceutical industry, announces the close of its $6m seed financing round.

“With the increasing demand for cellular starting material for biological drug research and development and ultimate commercialization, the establishment of Gift of Life Biologics is the natural next step in our parent company’s highly successful 30-year history,” said Stephen B. Siegel, Chairman of the Board.

The Company is backed by the Gift of Life Marrow Registry, an organization with three decades of experience recruiting, qualifying and collecting cellular products from volunteer donors. Gift of Life’s donor registry is accredited by the World Marrow Donor Association (WMDA), its apheresis center is accredited by the Association for the Advancement of Blood & Biotherapies (AABB) and its cellular therapy laboratory’s moderate and high complexity testing services are CLIA accredited.

“As one of two donor registries in the United States with a large and genetically diverse pool of more than 400,000 characterized donors, Biologics is uniquely positioned to serve the needs of cell and gene therapy developers seeking GMP-grade cellular starting material,” said Jay Feinberg, Chief Executive Officer of Gift of Life Marrow Registry and Gift of Life Biologics. “Now, these truly altruistic donors have yet another way to help save the lives of patients battling blood cancer and other life-threatening illnesses.”About Gift of Life Biologics

Gift of Life Biologics is the source for cell and gene therapy developers needing high quality, consistent GMP-compliant starting material to power their R&D and commercialization needs.

Website: www.giftoflifebio.com

Media Inquiries: Alec Burkin, aburkin@giftoflifebio.com

SOURCE https://www.prnewswire.com/news-releases/gift-of-life-biologics-closes-seed-6m-funding-round-illustrating-investor-confidence-in-future-demand-for-cell–gene-therapy-starting-material-301524458.html

Leave a Reply

Your email address will not be published. Required fields are marked *