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Article: Cellerant Brings In $16M To Advance Stem Cell Therapy.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
As it prepares to commercialize its hematopoietic stem cell purification technology, Cellerant Therapeutics Inc. raised $16 million in a Series B financing.
It may be the last time the Palo Alto, Calif.-based company has to turn to private investors. Cellerant expects to introduce its technology to the market within the next two years.
"The financing is very significant, both for us and, I think, for the industry, because it's been historically difficult to raise money for stem cell-based businesses," said Bruce Cohen, president and CEO of Cellerant. "This money will allow us to get to commercial revenue."
Cohen said the ...