LyGenesis, a clinical-stage biotechnology company developing cell therapies for patients with end stage liver disease, type 1 diabetes, end stage renal disease, and aging announced it has raised more than $19M in a Series A-2 financing round led by Prime Movers Lab, investors in breakthrough scientific startups, with follow-on funding from Juvenescence. This funding round will enable LyGenesis to complete its Phase 2a clinical trial and advance its pipeline of cell therapies.
Lygenesis hepatocytes are engrafted into the lymph node where they can proliferate and form a functioning ectopic liver inside the body.
"LyGenesis's regenerative cell therapies have the potential to transform the lives of patients who are either medically ineligible for an organ transplant or are awaiting an organ to become available. Using lymph nodes as bioreactors to grow ectopic organs is the type of platform technology that could revolutionize the treatment of multiple diseases and beneficially affect millions of lives," says Justin Briggs, Biologist and Partner at Prime Movers Lab, who will be joining LyGenesis's Board of Directors.
"We're delighted to continue our support for LyGenesis on its mission to restore the function of failing vital organs. By combining allogeneic cells from donated but discarded organs with a cost effective manufacturing process and engrafting their cell therapies using a low risk outpatient endoscopic ultrasound procedure, LyGenesis represents a truly remarkable opportunity," says Richard Marshall, Chief Executive Officer of Juvenescence. The Series A-2 financing was also supported by Juvenescence and other investors.
