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Pluristyx Closes Major Fundraising Round

BroadOak Capital Partners led Pluristyx’s latest fundraising round, which featured participation from existing investors and key opinion leaders in the life sciences sector.

The full press release is below.

SEATTLE, WA – December 21, 2023 – Pluristyx, a leading provider of tools, technologies and services for the development of cell therapies, has today announced the closing of a major fundraising round led by BroadOak Capital Partners. The oversubscribed funding round also featured participation from existing investors and key opinion leaders across the life sciences industry.

This infusion of capital enables Pluristyx to expand its existing cGMP cell line and service portfolio and broaden partner access to Pluristyx’s revolutionary panCELLa platform. This reduces the time and cost to get to the clinic for stem cell therapeutic companies by up to 80%. As part of the round, Pluristyx is pleased to announce the addition of two experienced life sciences executives, Bryan Poltilove and Jeffrey Allen, to the company as strategic advisors.

We are dedicated to becoming the reference partner for biotech companies developing iPSC therapies and today’s announcement brings us one step closer to achieving our goal,” said Dr Benjamin Fryer, Pluristyx’s CEO. “2023 was a remarkable year for us with the launch of our PluriBank pre-edited, clinical-grade, iPSC lines, and the signing of several major license and service agreements with industry leaders. In 2024 we are expanding our capacity and making more best-in-class tools for therapeutic development available to our customers. We appreciate the support of our investors and strategic advisors, and together we will accelerate the development of cell therapy technologies to deliver tomorrow’s cures, today.”

“Pluristyx has developed an impressive portfolio of engineered cell lines, technologies, and services to address the large unmet needs of iPSC therapeutic developers,” said Daniel Friedman, Vice President at BroadOak. “We are delighted to partner with Dr. Fryer and the leadership team to support the company at this inflection point for the stem cell therapy industry.”

Click here to read the original press release.