NEW YORK (GenomeWeb News) – Stem cell research tools company Cellular Dynamics International, a spinout from the University of Wisconsin – Madison, said today that it closed an $18 million Series A financing round, and it has merged with two sister UW spinouts, Stem Cell Products and iPS Cells.
The round of financing was led by Tactics II Stem Cell Ventures and by the Wisconsin Alumni Research Foundation. The new company will continue to operate under the name Cellular Dynamics International.
Financial terms of the merger were not released.
CDI is commercializing pluripotent stem cell-derived heart cells and other cell types for use by the pharmaceutical industry to test drugs for toxicity. The firm also said that it is establishing infrastructure for producing human stem cell types and for research to create stem cell biobanks that will use reprogramming to show the utility of banking individual stem cell lines for future use.
Cell types that the company derives from these banked stem cells will provide a basis for developing genetically diversified and personalized cell lines for therapeutic purposes and for studying potential drug reactions for individuals.