US-based cellular therapy engagement software developer Vineti has completed a $13.8m series A round that included subsidiaries of industrial product maker General Electric (GE) and medical researcher Mayo Clinic.
GE Ventures and Mayo Clinic Ventures were joined by venture capital firm DFJ and LifeForce Capital, both of which participated in the round as new investors.
GE and Mayo Clinic founded Vineti, which is developing a cloud-based platform that integrates elements of logistics, manufacturing and clinical data to expand access for patients to life-saving cell and gene therapies.
The funding will be used to expand the size of Vineti’s team, and to build its software product. Risa Stack, general manager of new business creation for GE Ventures, is taking a seat on Vineti’s board of directors.
Stack said: “There is a serious discrepancy between the accelerated development of life-saving cancer therapies and the supporting technologies required to deliver these treatments.
“Vineti’s dream team of leading industry pioneers and software engineers have formed the first company to align innovation in research with innovation in how next-generation therapies are produced and delivered, putting them on equal ground for the first time.
“GE Ventures is committed to supporting Vineti as it continues to revolutionise the way therapies are developed and delivered.”