Cell BioEngines Secures an Additional $2 Million in Funding From SOSV and the Empire State Development’s New York Ventures

NEW YORK, July 20, 2024 (GLOBE NEWSWIRE) -- Cell BioEngines, Inc., a New York, USA-based company researching stem cells in order to develop new cell therapies unlocked $1.75 million additional funds from SOSV and the Partnership Fund through the new therapeutics seed track, available for therapeutics start-ups. In addition, Cell BioEngines raised $0.25 million from Empire State Development’s NY Ventures, the state’s venture capital arm through the Pre-Seed and Seed Matching Fund Program.

“This reflects strong growth and investor confidence in our innovative approach to advancing cell therapies, particularly timely as we expand within New York State,” said Dr. Ajay Vishwakarma, Founder and CEO.

“The funds will support our first multicenter clinical trial, aimed at hematological cancer patients unable to find a donor and seeking an alternative to HLA-haploidentical blood stem cell transplants. CBE-101 represents a novel approach with expanded cord blood-derived hematopoietic cell therapy, aligned with Cell BioEngines' vision to deliver 'off-the-shelf' cell-based therapies to patients”, he added.

About Cell BioEngines

Cell BioEngines, Inc., founded in Dec 2022, is a clinical-stage biotech company focused on developing allogeneic 'off-the-shelf' stem cell-derived therapies as ‘drugs’ for human disease treatment. The company leverages its proprietary platform technology using universal 'non-gene-modified' donor blood stem cells obtained from umbilical cord to produce clinical grade cells at scale.

For more information about Cell BioEngines, and to learn more the latest Company developments, please visit www.cellbioengines.com

Contact

Mark Joubert., J.D.
Chief Legal Officer
Cell BioEngines, Inc
info@cellbioengines.com