Massachusetts-based Kytopen has seen an influx of cash in recent months. More recently, biotechnology has raised a large sum of money in its Series A financing round, which was announced on Tuesday.
The MIT spin-out will use the $ 30 million raised during the funding round to commercialize Kytopen’s Flowfect® Tx for the manufacture of GMP-compliant cell therapies and will be closer to treating its first patient with Flowfect® modified cells.
Flowfect® accelerates therapy to the clinic by enabling cell engineering without compromising functionality or viability. The technology uses electromechanical energy to introduce genetic material into different primary human cells.
“Cellular engineering is a very manual and time consuming process. While the market demands acceleration and scale, the fragility of a cell demands that the methods be equally gentle from the lab to the clinic, ”said Adam Wieschhaus, Ph.D., CFA, director of Northpond Ventures. “Kytopen unleashes the potential of genetic engineering at speeds 10,000 faster than current advanced methods while maintaining cell composition.”
The Series A cycle was led by science-based investment firm Northpond Ventures, which was joined by other existing investors including The Engine, Horizon Ventures and Mass Ventures.
“We are delighted to partner with Northpond and their innovative ecosystem to develop and commercialize our Flowfect technology. Together with the talented and experienced team at Northpond, we will continue to unlock industry bottlenecks and pave the way for cost-effective engineered cell therapies, ”said Paulo Garcia, Ph.D., CEO and co-founder of Kytopen.
Kytopen’s other recent cash injection took place in June. The company received a SBIR Fast Track Grant National Institute of Allergy and Infectious Diseases (NIAID) worth up to $ 2 million over three years. Grant money will be used to alleviate current limitations in NK cell gene editing.
“The modified NK cells have enormous therapeutic promise, including the potential to treat solid tumors in an allogeneic modality,” said Garcia, who will be the grant’s principal investigator. “The Flowfect® platform will facilitate the discovery of high throughput targets while providing a clear path to clinical manufacture of next generation cellular products. “
NIAID is part of the National Institutes of Health (NIH), whose grant programs help provide capital to start-ups so they can create and develop innovative technologies that will hopefully help improve human health. in the future.