TORONTO, Jan. 24, 2018 /CNW/ - panCELLa Inc., an innovative biotechnology company, has announced today the recent completion of a $1M investment from Chiefswood Holdings Limited. Terms of the financing were not disclosed. This is the first outside capital for the company.
"We are very pleased with this strategic investment in panCELLa's technology" said Greg Hood, COO of panCELLa. "Today's funding represents a significant step towards commercialization of our "FailSafe Cell Therapy". With panCELLa's "FailSafe System" we have the capability to define, quantify and decrease the risk of cell therapy."
Dr. Keating and Dr. Nagy, panCELLa's founding partners, further noted that with panCELLa's patented technology, it is their mission to offer safe, cost-effective "off-the-shelf" cell therapies for all humankind. Dr. Keating, CMO, was recently awarded the inaugural Lifetime Achievement award from the Canadian Hematology Society for his contribution and impact on the field. Dr. Nagy, President and CSO, is renowned for establishing Canada's first embryonic stem cell lines and discovering a novel non-viral method to reprogram somatic cells into pluripotent cells (iPSC).
About panCELLa Inc.
Incorporated in August 2015, panCELLa ( www.pancella.com) was founded by Dr. Andras Nagy and Dr. Armand Keating based on Dr. Nagy's ground-breaking work in the area of stem cell research. Through panCELLa, Dr.'s Keating and Nagy are seeking to create an effective cell therapy derived from stem cells, which are modified to provide a sufficient and very high level of safety before and after the cells are introduced to the patient. panCELLa serves those companies developing products from embryonic (ES), induced pluripotent (iPS), malignant and immortalised cells. Clinical trials of stem cell therapies for Alzheimer's (AD), Parkinson's and other CNS disorders are underway. However, therapies with proliferating and in vitro expanded cells pose safety risks to patients. panCELLa offers a technological solutions to this challenge. panCELLa seeks to create universal "off the shelf" FailSafe therapeutic cell products and to assist the pharmaceutical and biotechnology sectors to achieve such with their own cell lines. Targeted medical applications include those deadly debilitating aggressive diseases requiring immediate treatment where there is no time to cultivate a customized stem cell treatment from the patient. (i.e. spinal cord injury, stroke, cancer, Alzheimer's, Parkinson's, Cardiovascular disease, Diabetes)
SOURCE panCELLa Inc.
For further information: Lisa Schummer, Manager Operations, at (647) 276-0088 or lisa@pancella.com