Aivita Biomedical, a US-based stem cell medicine developer backed by chemical provider SFC, has secured $12.5m for the first close of a $25m series B-2 round.
Entrepreneur Matthew Katz led the tranche and has joined the company’s board of directors, investing together with undisclosed healthcare-focused venture capital firms.
Aivita is working on curative and regenerative stem cell-based medicines for cancer and vision loss, in addition to skincare products, the proceeds of which have been pledged to donate to cancer treatment.
SFC supplied $15m in series B funding for the company in mid-2018, following $2m in series A financing from VC fund California Technology Ventures two years earlier.
