Xellsmart, a stem-cell startup headquartered in Suzhou, has reportedly secured over RMB 100 million (USD 14.08 million) in a Series B1 financing round. The round was led by Tialong/Taikun Equity Investment Fund, with additional investments from Septwolves Venture Capital and Sky World Capital, alongside returning investors Frees Fund, Qiming Venture Partners, Lilly Asia Ventures, and Hongshan. The funds raised will be utilized to accelerate the development of Xellsmart’s clinical-grade induced pluripotent stem cell (iPSC) derived cell therapy pipeline, focusing on neurological diseases, and to support clinical trials.
Xellsmart prides itself on its iPSC-derived subtype neural precursor cell therapy, which received an orphan drug designation (ODD) from the US FDA last year for the treatment of amyotrophic lateral sclerosis (ALS). This designation underscores the potential impact of Xellsmart’s therapy in addressing a significant unmet medical need.
The successful funding round highlights the growing interest in stem-cell therapies and the potential of iPSC technology in developing novel treatments for neurological disorders.- Flcube.com
