Cellular Dynamics International, Inc. (NYSE:CDI) has closed on a $30M private equity round. This recent Series B Preferred Stock financing was led by an entity affiliated with Tactics II Stem Cell Ventures, which along with its affiliates led CDI’s prior capital raises. Other investors in this financing round include Sam Zell’s Equity Group Investments LLC, Sixth Floor Investors LP and G Force Investments LLC.
- This financing enables CDI to launch new iCell® iPSC lines as well as iCell Endothelial Cells, iCell Neurons, and iCell Hepatocytes lines for biomedical and pharmaceutical drug development and safety research, as well as continue to increase production capacity for its iCell Cardiomyocytes. CDI also plans to continue to rapidly expand its commercial organization to meet the growing demand for these iPSC-based products.
The Bottom Line: CDI’s iCell Cardiomyocytes product line is the 1st commercial product based on stem cells grown from adult tissue using CDI’s iPSC technology. CDI grows it’s fully pluripotent stem cell lines from adult human donor blood samples. CDI’s iPSC technology coaxes the blood cells to turn back their developmental clock and become iPSCs, which then can be directed to develop into any of the human body’s 200+ cell types. Prior to iCell product introduction, pharmaceutical and research customers could test new drugs and conduct research only on human tissue cells from cadavers, cells derived from tumors or animal cells. None of these cell models accurately mirrors what happens in a live human body. iCell products improve the efficiency and effectiveness of drug discovery and safety testing by enabling in vitro clinical trials on fully functional human cells before drugs are tested on humans. CDI has raised a total of $100M since 2004.