Report: Stem cell R&D startup lands $14M round
Report: Stem cell R&D startup lands $14M round
March 10, 2009
By Mass High Tech staff
Cambridge stem cell research and technology firm Stemgent Inc. has pulled in a $14 million Series A-1 round of funding, according to published reports. Website PEHub.com notes that HealthCare Ventures and Morgenthaler Ventures were the investing companies.
No Stemgent officials were immediately available for comment on the funding.
On its website, Stemgent says that the company is “improving the reagents business itself for stem cell scientists.”
The company operates an office in Cambridge and another in San Diego. It has obtained licenses related to stem cell reagents from top research institutions such as MIT, Harvard University and The Scripps Research Institute in La Jolla, Calif., according to Ian Ratcliffe, CEO of Stemgent, who spoke with Mass High Tech in June. At the time, the company said it expected to raise a “large, yet unspecified, amount of Series B venture capital” from Massachusetts life sciences backer HealthCare Ventures.
According to the MHT report, Ratcliffe helped attract such top scientists as MIT professor Robert Langer, Sheng Ding of the Scripps Research Institute and MIT researcher Dan Anderson to serve on Stemgent’s scientific advisory board.
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