US-based biotech startup Celularity secured $250m of funding yesterday from investors including pharmaceutical companies Celgene, United Therapeutics and Sorrento Therapeutics, genomic data provider Human Longevity and conglomerate Genting Group.
The corporates invested together with venture capital firm Section 32, Dreyfus Family Office, and Heritage Group. In addition to investing, Celgene, United, Sorrento and Human Longevity have supplied synergistic assets to set up the company.
Celularity is developing cell and tissue regenerative therapies derived from the placenta, in order to address conditions such as autoimmune disease, diabetes, haematological and solid tumours, and the negative physical effects of ageing.
The corporates have provided more than 800 issued patents for Celulality, focusing on placental-derived stem and progenitor cells. It also owns LifeBankUSA, a bank where parents can deposit placental cells and biomaterials from their newborn children.
The company has been operational since 2016 and Robert Hariri, co-founder and president of Longevity, and former chief executive of Celgene Cellular Therapeutics, is Celularity’s founder, chairman and CEO.
Hariri said: “Celularity is a new biotechnology company model founded to harness the placenta as a platform for discovery and therapeutics, ultimately with a goal of amplifying the body’s ability to fight disease, restore function and extend the healthy lifespan.
“It is my vision that the cellular medicines we derive from the placenta will lead to abundant and affordable treatments.”
Henry Ji, chairman, president and CEO of Sorrento, is a member of Celularity’s eight-strong board of directors, as is Section 32 founder Bill Maris, who also founded corporate venturing unit Google Ventures.