This article is more than 5 years old. Information may no longer be current.
Cell Care Therapeutics raises $4.3 million in funding
Cell Care Therapeutics has raised $4.3 million in seed funding from a syndicate of individual investors, the company announced in a press release.
The funding will be used to develop the company’s manufacturing platform and to advance its preclinical-stage drug candidate for eye diseases such as diabetic retinopathy and neovascular age-related macular degeneration, the release said.
“The closing of this first round of financing is an endorsement of our novel approach of using stem cell secretions to modulate the immune system as an alternative to the more commercially challenging approach of using living cells to repair damaged tissue,” Nicolas Sohl, Cell Care president and CEO, said in the release. “The ophthalmic community is embracing the theory that the treatment of complex degenerative diseases within the eye may require a broader set of signaling molecules that cannot be recapitulated by any single small molecule, RNA or recombinant protein.”