US-based stem cell-focused biotech developer Aivita Biomedical raised $15m in a series B round provided by chemicals producer SFC.
Founded in 2016, Aivita Biomedical is working on a range of stem cell applications. Its lead candidate is a patient-specific immunotherapy that targets advanced cancers and is currently being developed specifically for ovarian cancer.
The company has also launched a consumer skincare brand that mimics the conditions of developing skin. Proceeds from that brand are reinvested into patients suffering from ovarian cancer.
The money will go towards the further development of Aivita’s cancer programs, recruitment of additional staff and the development of additional products.
California Technology Ventures previously invested $2m in series A funding in 2016.