San Diego: (Business Wire) -Stemson Therapeutics has announced the closure of a $ 15 million US-led A series of ACCC-funded solutions to develop a Stemson proprietary treatment solution for hair loss. Genoa Venture, Abby Ventures and other investors support Stemson’s efforts to restore human hair growth by using new hair follicles using the patient’s scalp.
In addition, the board of directors of Keirsten Stead, PhD, DCVC Bio and Jenny Rook, PhD, Associate Management Partner, Stemson, Managing Director of Genoa Venture, Matt Pozard, CEO and CEO and Co-Founder, Geoff Hamilton. Dr. Stead is investing in the life sciences of a number of high-tech companies. He earned a PhD. MBA in Molecular Biology and Genetics and Finance from the University of Alberta. Dr. Rook is the Founder and Managing Director of Genoa Venture, a leading innovative company in the integration of technology and biology. Rook earned a PhD. Degree in Physics from Yale University and Georgia Institute of Technology in Genetics.
“We are delighted and honored to welcome the D.C.Vio Bio and an impressive combination of investors to the Stemson team. Series A funding will help us tailor our skin structure and environment to our next clinical trial with a high degree of confidence. We have the technical and biological building blocks to successfully deal with hair loss that overcomes past failures, ”said Hamilton. “The addition of key investment capital investors DCVC Bio, Genoa Ventures and AbbVie Ventures will expand and strengthen our investor base. DCVC Bio and Genoa Ventures are successful early stage investors, and I am delighted to welcome our new board members, Dr. Stade and Dr. Ruke, to the team. In addition, Abby Venture Investment In 2020, the first seed investment from allergens statistics will be on the heels of, and the continued industry demand in our technology is encouraging.
Worldwide, hundreds of millions of men and women suffer from hair loss. Although there are many possible causes for hair loss, including chemotherapy, autoimmune diseases, scars, and genetics, they can all lead to self-esteem and can cause depression, anxiety, and other mental health problems for those affected. Hair restoration market By 2028, it is expected to be over $ 13.6 billion, and there is no solution today to create an unrestricted supply of new healthy follicles.
“It’s been 30 years since the FDA approved the FDA treatment, but millions of people still lose their hair every year, both physically and mentally,” he said. “Stemson’s novel stem cell engineering platform has the potential to cure not only the physical symptoms but also the mental burden of this complex problem once and for all.
“The team in Genoa is impressed by Stemson’s vision of integrating biology and technology and moving beyond traditional biotech,” Dr. Rook added. Combining exciting advances in iPSCs with new technologies in materials and information science, Stemson exemplifies the kind of support he wants to support in his quest to become a category-defining company.
Series A Finance raised up to $ 22.5 million in total funding, which will enable Steamson to take its next stage of research and development to the Cell Engineering Platform, replacing it with bio-engineering materials and robotics as a new solution for natural hair. Stemson’s research and development efforts are currently focused on developing solutions for the human skin structure in large animal models. Stemson Induced Pluripotent Stem Cell (iPSC) technology can produce the cells needed to start hair growth and has been successfully tested in small animal models.
About Cell Rehabilitation Technology
Human Induced Pluripotent Stem Cells (iPSC) have the unique ability to reproduce indefinitely and reproduce for all human cells, including the cells that need repair. IPSC-based technology can produce the cell types needed to start hair growth. As a new medical platform, IPSs represent a new form of cell therapy. Stemson is one of the leading companies in the development of IPms-based treatments.
About DCVC Bio
For more than two decades, DCCCC and its core technologies have, from ancient times to the present, supported the implementation of almost unresolved issues in a practical and cost-effective manner. DCVC Bio is focused on supporting life sciences in engineering and medicine, industrial biotechnology and agricultural intersections. For more information, please visit https://www.dcvc.com/companies.html#dcvc-bio
About Genoa Ventures
Genoa Ventures is investing in a combination of biotechnology and technology to accelerate innovation, transform industry, and address some of life’s most pressing challenges. Genoa will focus on its investments and skills to identify opportunities and develop companies that will define the next big category. The Genoa team has unique chimeric experience for executive management, from scientific research and discovery to life sciences and technologies. The team will apply this unique experience to provide expert guidance to the stakeholders and to bring the stars back to the investors.
About AbbVie Ventures
Abby Ventures is Abviye’s corporate capital team. We are a strategic investor, investing only in the fiction, the science that can change the major R&D needs of ABV. Our ability to change the lives of patients served by ABVV is a measure of success as our investments increase creativity. AbbVie Ventures is funded by both its portfolio companies and Abby Vie’s internal network professionals at all levels of drug development, from drug discovery to business. For more information, please visit www.abbvie.com/ventures
About Stemson Therapeutics
Stemson Therapeutics is a pre-clinical level cell therapy company that aims to cure hair loss in 2018 using Induced Pluripotent Stem Cells. Based on the invention of Stemson Therapeutics co-founder Dr. Alexei Terskik, Stemson uses iPSC to rejuvenate the vital cells needed to grow hair, and they are damaged or depleted in patients suffering from hair loss. IPSC-based cells are used to enhance the new hair supply for de novo to treat people suffering from various types of alopecia. Today, there are no treatments that can promote new hair loss. Stemson’s world-class scientists, consultants, and collaborators are passionate about providing a scientifically based, proven, therapeutic approach to millions of hair loss sufferers seeking help with hair loss. Stemson Therapeutics is headquartered in San Diego, California. For more information, please visit www.stemson.com.