Stemgent, a Cambridge-based stem cell technology company, raised $5.6 M of a $10 M round in venture capital, according to a new filing with the SEC. The funding also includes the conversion of promissory notes. Stemgent’s previous investors, Morganthaler Partners and HealthCare Ventures were both included in the filing (5/12/10) with the SEC. The filing also included Stefan Miltenyi, CEO of Miltenyi Biotec, who will also make an equity investment into Stemgent and join Stemgent’s Board of Directors.
Miltenyi Biotec is a German cellular therapeutics firm entered into a co-development and commercialization agreement for stem cell research products with Stemgent: Miltenyi Biotec will be responsible for worldwide marketing and sales of Stemgent’s existing stem cell product portfolio outside the USA, whereas Stemgent will continue to serve its US customers. Both companies will jointly develop innovative products to serve unmet needs of the international stem cell research community. New products developed in the strategic collaboration will be globally commercialized by Miltenyi Biotec on an exclusive basis.
A year earlier, in 3/09, Stemgent raised a $14 M Series A-1 round of funding. In 3/10, Stemgent announced that it had invested $4.5 M to co-found Ubiquigent, a Scottish company developing cell signaling products that Stemgent will market in the US. Ian Radcliffe plans to serve as CEO of Uniquigent, as well as Stemgent.
Miltenyi Biotec provides products and services for cellular therapies. With approx. 1100 employees in 18 countries, Miltenyi Biotec develops manufactures and commercializes innovations for both, research and clinical applications. The portfolio provides integrated solutions for all areas covering sample preparation, cell separation, cell culture, flow cytometry, and molecular analysis.
Our previous blog on 4/19/10 defined: Stemgent, as a start-up in Cambridge, MA and San Diego, Cal that makes consumable materials for stem cell research labs. Stemgent provides research tools and services to advance in vitro and in vivo nonhuman stem cell research. Its product offering includes small molecules for pluripotency, self-renewal, and differentiation, viral-delivered transcription factors, matrices, cell lines, cytokines, antibodies, transfection reagents, and more. It has obtained licenses related to stem cell reagents from research institutions such as MIT, Harvard University and The Scripps Research Institute in La Jolla, Cal.