Cellular Dynamics International (CDI) has raised $40.6m to increase the production capacity for its iCell Cardiomyocytes and to initiate additional human tissue cell products for biomedical and pharmaceutical drug development and safety research.
CDI will also use the proceeds for the expansion of its product lines beyond the current iCell Cardiomyocytes product offering, and to expand its commercial organisation to meet the growing demand for induced pluripotent stem cell (iPSC) based products.
iCell Cardiomyocytes are human heart cells derived from iPSCs. This product line is the first commercial product based on stem cells grown from adult tissue using iPSC technology to help pharmaceutical companies speed up the discovery of safer, more effective drugs.
This series B preferred shared fund was financed by Tactics II Stem Cell Ventures, which also led CDI's prior capital raises.