Satellite Bio Raises USD110M In Seed and Series A Funding
Satellite Bio, a Cambridge, MA-based provider of tissue therapeutics, raised USD110M in Seed and Series A funding.
The round was led by aMoon Growth, Lightspeed, aMoon Velocity, Polaris Partners and Polaris Innovation Fund, with participation from Section 32, Catalio Capital Management and Waterman Ventures.
The company intends to use the funds to expand its development efforts.
Led by CEO Dave Lennon, Satellite Bio leverages its Satellite Adaptive Tissue (SAT) to selectively program cells and then assemble them into novel, implantable therapies, called Satellites, which can be introduced to patients to repair, restore or even replace dysfunctional or diseased tissue or organs. Satellites enable full cell function in vivo, overcoming many of the challenges that have hindered prior attempts to restore organ function and change the course of progressive and difficult-to-treat diseases.
The company has an exclusive license to technology originating in the labs of Sangeeta Bhatia, MD, PhD, director, Center for Nanomedicine, Massachusetts Institute of Technology and Christopher Chen, MD, PhD, director, Biological Design Center, Boston University. Building on the work of Dr. Robert Langer and others, they combined more than two decades of collaborative research in tissue technology, biology and bioengineering to create this new class of regenerative medicine called Tissue Therapeutics. Satellite Bio was founded by Bhatia and Chen, along with Arnav Chhabra, PhD, head, Satellite Bio Platform R&D in Cambridge, MA, in 2020.
The company is also announcing the appointments of Laura Lande-Diner, PhD, chief business officer and Tom Lowery, PhD, chief technology officer to the executive team.