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Monday, January 21, 2013

2012 Financing Recap: Cell Therapy and Cell-Based Regenerative Medicine Companies

 

In October we posted a teaser saying that we had at that time tracked the infusion of over $1 billion dollars into cell therapy and cell-based regenerative medicine companies in 2012.  We promised details.  Here they are:


For the first half of the year, see our post "Monthly recap of funds raised by cell therapy & regenerative medicine companies" dated July 31 and updated August 8.

Since that post, we back-filled the following deals which we missed earlier:

  • In February, Stemgent raised $6.3M from eight private investors
  • In April, BioRestorative Therapies raised $2.1M from undisclosed private parties
  • In July, Immusoft received a $300,000 grant from NIH-SITR.
August saw the following financings:

  • Cell Cure Neurosciences was awarded $1.3M from Israel's Office of the Chief Scientist
  • Stemgent collected another $11.3M from eight private backers
  • Neuralstem brought in $2.76M in a public offering
  • Fate Therapeutics received $9.2M from undisclosed investors
September was a busy month with the following deals and grants:
  • Cellerant benefits from a further BARDA grant tranche with the potential to hit upwards of $36.4M
  • StemCells Inc saw the second of its CIRM-funded boats come in to the tune of $20M
  • Argos Therapeutics collected $16M from 24 different unnamed investors
  • Neuralstem succeeded in bringing in another $7M in a direct public offering
  • Pluristem rode its well-orchestrated fame to a $34M underwritten public offering
  • Advanced Cell Technology brought in $35M via ATM
  • Cellerant collected $2.09M from private investors
  • Cytori was awarded a BARDA grant with potential to hit up to $106M
  • Vital Therapies closed the first $16M from a multistage commitment to invest $76M by existing private investors. The investment is intended to fund three  Phase III trials of the company’s bioartificial liver therapy, ELAD, for two types of acute liver failure. One trial in the US (not yet recruiting) in acute alcoholic hepatitis involving 200 patients; the other two trial in EU and Australia/New Zealand for acute alcoholic hepatitis patients who fail steroid therapy and in subjects with fulminant hepatic failure
  • Avita Media rounded out the month with a modest $880,000 grant from AFIRM
So after seeing $172M come into the sector in Quarter One and $252M in Quarter Two, the Third Quarter saw companies in the sector glean commitments of up to $408M from various sources. 

The Fourth Quarter saw $288M infused into the sector broken down as follows:

    October
  • Capricor gleaned a $19.8M from CIRM
  • China Cord Blood Corp secrured $50M in a convertible note financing from Golden Meditech Holding Limited
  • Cellerant kept the grant machine rolling with a $1.7M phase 1 SBIR grant from NCI
  • Tengion secured $15M in senior secured convertible notes from Celgene Corporation, RA Capital Management,  Deerfield Management Company, Bay City Capital and HealthCap
  • Viacyte saw a $10M grant from CIRM
  • Massachusetts-based Bluebird Bio finagled $9.36M from California's CIRM
  • Fibrocell Sciences did a $45M PIPE
  • Avita Medical gleaned $10M from a secondary public offering
    November
  • Athersys closed a $23M secondary offering priced at $1.00
  • Tissue Regeneration Therapeutics eked out a $100,000 grant from Ontario Genomics Intitute
  • Quy Biosciences (formerly MedCell) raised $2.7M in a private placement
  • Kiadis Pharma managed a $12.8M financing round lead by LSP (Life Sciences Partners) and supported by a large investment from DFJ-Esprit. Other investors included Alta Partners, Quest for Growth and NOM.  The round will be used to do a late-stage phase 2 trial which they hope will position them for a solid pivotal with partner, Hospira.
  • NeoStem received a $1.2M grant from NIH
  • French biotech, TxCell raised €12.4M from existing shareholders to support an internationa ph 2b trial of Ovasave for the treatment of Crohn’s disease in patients who are refractory to current treatments.
  • In a Biotech Showcase presentation, Adaptimmune COO reported they were given 9.6M British Pounds by 'high-net-worth investors' in November to move forward their clinical pipeline
    December
  • Northwest Biotherapeutics brought in $13.8M in a secondary public offering
  • Organovo secured $7.7M in a tender offer to warrant holders
  • Cytori closed a $23M secondary public offering (including the shoe)

Unfortunately neither Cell Therapy Group, nor any of our industry organizations, have any comprehensive financing data from year's past to know for certain whether broaching this $1,000,000,000 threshold is indeed a first-ever accomplishment.  We tracked $390M of investment into the sector in 2008 and then did not track this data for 2009-11 inclusive.

Based on everything we know, we believe this is almost certainly the first time the sector has raised over one billion dollars. 

Hope that helps.

--Lee


2 comments:

Anonymous said...

Hey Lee. Heck of a compilation. Wonder if you have anything on China's MEBO International. I read about the founder of it, Dr. Xu who is suing the Nobel Assembly for his stem cell research. Love the post, thanks.

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