Cellular Dynamics Raises $30 Million to Expand Its Product Line of Human Stem Cells and Tissue Cells
MADISON, Wis., April 7, 2011 /PRNewswire/ -- Cellular Dynamics International, Inc. (CDI), the world's only industrial manufacturer of human induced pluripotent stem cells (iPSCs) and tissue cells, has closed on a $30 million 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. CDI has raised a total of $100 million since 2004.
This financing enables the company 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.
CDI's market-leading production process, which is unique in the industry, can produce large quantities of human tissue cells while maintaining their purity, quality and consistency. The company's iCell Cardiomyocytes product line is the first commercial product based on stem cells grown from adult tissue using CDI's iPSC technology developed by founder James A. Thomson. CDI grows its fully pluripotent stem cell lines from adult human donor blood samples. The company'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.
Thomson, CDI Chief Scientific Officer and recent winner of the prestigious Albany Medical Award and King Faisal Award, commented, "Human pluripotent stem cells offer a unique window into human health a