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eGenesis Announces $100 Million Series B Financing | ![]() |
Thursday, 07. November 2019 12:00 |
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Financing led by Fresenius Medical Care Ventures Proceeds will be used to accelerate lead program in kidney xenotransplant into the clinic and progress a range of other xenotransplant programs across solid organ and cell therapy CAMBRIDGE, Mass., Nov. 07, 2019 (GLOBE NEWSWIRE) -- eGenesis, a biotechnology company utilizing breakthrough gene editing technologies for the development of safe and effective human-compatible organs to address the global organ shortage, today announced the successful completion of a $100 million Series B financing. The financing was led by Fresenius Medical Care Ventures (FMCV), with participation from new investors including Leaps by Bayer, and Wellington Partners. Existing investors including, but not limited to, ARCH Venture Partners, Biomatics Capital, Alta Partners, and Khosla Ventures all participated. eGenesis is committed to helping solve the global organ shortage by pioneering an alternative source of human-compatible organs. Over 110,000 patients are on the organ transplant waitlist in the U.S. alone, with approximately 20 patients dying per day because they are unable to find a suitable organ donor. This financing will enable the acceleration of the eGenesis kidney xenotransplant program into the clinic, as well as support advancement of a range of other xenotransplant programs across islet cell, liver, heart, and lung. The focus of the company is to rapidly advance an entirely new set of options across the transplantation field. “With this new round of financing from industry leaders, eGenesis is well positioned to continue to advance the development of human-compatible organs to address the dire shortage in the U.S. and around the world,” said Paul Sekhri, president and chief executive officer of eGenesis. “The concept of cross-species organ replacement, known as xenotransplantation, has re-emerged due to recent advancements in gene editing led by eGenesis, and will become a safe and effective solution for the hundreds of thousands of patients currently on the organ transplant waitlist globally.” “The eGenesis approach represents a truly transformational option for patients with kidney disease,” said Dr. Olaf Schermeier, chief executive officer for global research and development of Fresenius Medical Care. “We look forward to providing our industry leading experience in treating patients with kidney disease to support the company as they aim to bring their solution into the clinical setting.” “Leaps by Bayer is dedicated to spearheading paradigm-shifting advances in the life sciences that could fundamentally change the world for the better,” noted Jürgen Eckhardt, Head of Leaps by Bayer. “We believe eGenesis is poised to revolutionize the entire organ transplantation market, which could save lives in a way that was previously not thought possible just a few years ago.” In connection with the financing, Al Wiegman, Head of Ventures at FMCV, as well as Jürgen Eckhardt and Dr. Lucio Iannone, Director of Venture Investments at Leaps by Bayer, will join the eGenesis Board of Directors. About Transplantation and Xenotransplantation The concept of xenotransplantation, or the transplantation of organs, tissue and cells from one species into another, has been explored for several decades, with the pig considered the most suitable donor for humans. However, until the development of modern gene editing tools, incompatibilities related to virology and immunology have prevented porcine organ xenotransplantation from entering clinical development. About eGenesis About Fresenius Medical Care About Fresenius Medical Care Ventures GmbH About Bayer and Leaps by Bayer Contacts: |
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