Cellphire Therapeutics, Inc., the global leader in long-term stabilization and storage of platelets, announced today the close of a $15 million Series A financing round led by Simcah Management.
This Series A funding comes at an exciting time for Cellphire as it enters two Phase 2 clinical trials with two products, Thrombosomes® and Cryopreserved Platelets (CPP) in bleeding patients. The company's lead product, Thrombosomes®, is the only platelet-based freeze-dried hemostatic agent in clinical trials. The product has the potential to transform transfusion medicine with its shelf stability of 3 years. In addition, Cellphire is developing CPP, frozen platelets, for the U.S. Army to fill a gap in military transfusion support. CPP is a complementary product to Cellphire's next-generation product, Thrombosomes®.
This financing round enables Cellphire to expand and accelerate the development of Thrombosomes® and support the company's groundbreaking research and development projects in the areas of targeted drug delivery, anti-thrombotic reversal, and regenerative medicine.
With the closing of a new funding round, Cellphire has entered its next exciting phase and is poised for rapid growth. Stephen H. Willard, a major shareholder, has decided to step away from his role as CEO and the Board in order to bring in a new CEO to take the company through its new phase of expansion and growth. The Board has identified the company's new CEO who will start with the company in the near future. In the interim, Rafael Jorda, who has been with the company since 2015, will be the acting CEO and manage the company with the assistance of the Executive Management Team.
Mr. Jorda will also be joining the company's Board of Directors, along with two new Directors including Thomas I.H. Dubin, JD, MPH, formerly Senior Vice President and Chief Legal Officer at Alexion Pharmaceuticals, Inc., and Derek E. Woods, Ph.D., formerly a senior executive at Johnson & Johnson and Beckton Dickenson. Mr. Dubin will serve as the Executive Chairman. Current Directors John L. Vogelstein and Rodman W. Moorhead III retired from the Board effective at the closing of the funding round. Cellphire is very grateful for the important contribution each of these gentlemen have had in the development and success of the company.
About Cellphire Therapeutics
Cellphire Therapeutics, Inc. is a biotechnology company developing next-generation therapeutics. The company is applying its proprietary cell stabilization technology to platelets, to develop lifesaving products. Its lead investigational product is Thrombosomes®, a freeze-dried hemostatic derived from human platelets. Cellphire's technology has potential applications across a wide range of medical applications from trauma to wound care, imaging, targeted drug delivery, and regenerative medicine. For more information, visit www.cellphire.com.