Expansion of iPSC Product Line and Commercial Operations Secured Through Successful Funding
In a significant development, biotech company Pluristyx has successfully completed a funding round led by BioLife Solutions and BroadOak Capital Partners. This investment will propel Pluristyx to advance its induced pluripotent stem cell (iPSC) technologies and gene editing, with a focus on creating safer, more effective, and scalable living medicines [1][2].
The new capital will be primarily used to expand Pluristyx's inventory of clinical-grade iPSC lines, incorporating proprietary FailSafe® and iACT™ engineering and hypoimmune genetic edits. These advanced cells are designed to support next-generation, genetically engineered therapies [1][2].
The funding also supports the commercialization and distribution of Pluristyx’s PluriForm™ kit. This innovative tool offers researchers streamlined solutions for generating organoids and other complex test systems, enhancing disease modeling and drug discovery capabilities [1][2].
Daniel Friedman, Principal at BroadOak Capital Partners, has shown continued support for Pluristyx and its team, led by CEO Benjamin Fryer, PhD. Fryer has a long-standing working relationship with the founding team at Pluristyx [6].
Roderick de Greef, BioLife's Chairman and CEO, is excited to continue supporting Dr. Fryer and the Pluristyx team. This investment broadens BioLife’s footprint into upstream bioproduction, complementing its advances in biopreservation and cryopreservation technologies critical for cell therapy supply chains [3][4][5].
Pluristyx is differentiated by its suite of proprietary technologies in the iPSC field, and this investment strengthens its position as a leader in high-quality stem cell provision. iPSCs are essential for developing new medicines and can replace animal models in toxicology, safety, and efficacy assays [7].
The collaboration between Pluristyx and these investors may lead to further exploration of biological assays as a product portfolio adjacency. BioLife Solutions has expressed interest in this area, aligning with Pluristyx's development [6].
The ongoing support from these investors could potentially contribute to the growth and development of Pluristyx's proprietary technologies, further cementing its role in the evolving landscape of safe, effective, and scalable living medicines derived from pluripotent stem cells [1][2][5]. The Pluristyx team is respected for their scientific expertise in cell therapy, and this investment underscores the confidence placed in their work.
References:
[1] BusinessWire. (2022, May 25). Pluristyx Secures $12 Million in Series A Funding to Advance iPSC Technologies and Gene Editing. [online] Available at: https://www.businesswire.com/news/home/20220525005156/en/Pluristyx-Secures-12-Million-in-Series-A-Funding-to-Advance-iPSC-Technologies-and-Gene-Editing
[2] GlobeNewswire. (2022, May 25). Pluristyx Secures $12 Million in Series A Funding to Advance iPSC Technologies and Gene Editing. [online] Available at: https://www.globenewswire.com/news-release/2022/05/25/2456199/0/en/Pluristyx-Secures-12-Million-in-Series-A-Funding-to-Advance-iPSC-Technologies-and-Gene-Editing.html
[3] BioLife Solutions. (2022, May 25). BioLife Solutions to Invest $2 Million in Pluristyx. [online] Available at: https://www.biolifesolutions.com/news-and-events/news/biolife-solutions-to-invest-2-million-in-pluristyx
[4] Yahoo Finance. (2022, May 25). BioLife Solutions to Invest $2 Million in Pluristyx. [online] Available at: https://finance.yahoo.com/news/biolife-solutions-invest-2-million-181400216.html
[5] PR Newswire. (2022, May 25). BioLife Solutions to Invest $2 Million in Pluristyx. [online] Available at: https://www.prnewswire.com/news-releases/biolife-solutions-to-invest-2-million-in-pluristyx-301557337.html
[6] Xconomy. (2022, May 25). Pluristyx Raises $12M to Advance iPSC Technologies and Gene Editing. [online] Available at: https://www.xconomy.com/boston/2022/05/25/pluristyx-raises-12m-to-advance-ipsc-technologies-and-gene-editing/
[7] Science Direct. (2021). Induced pluripotent stem cells. [online] Available at: https://www.sciencedirect.com/topics/neuroscience/induced-pluripotent-stem-cells
- This investment in Pluristyx will contribute to the development of safer and more effective medical-conditions treatments, particularly in the field of health-and-wellness, as the company plans to expand its inventory of clinical-grade iPSC lines and explore biological assays.
- The advancements in science and technology catalyzed by Pluristyx's fundraising may pave the way for future breakthroughs in the pharmaceutical industry, potentially leading to groundbreaking discoveries for various medical-conditions, including the creation of living medicines derived from pluripotent stem cells.
