Sanguine is a leader in custom specimen procurement used by biopharmaceutical companies to accelerate precision medicine and cell & gene therapy R&D. Our investment will help Sanguine expand laboratory operations, leukapheresis offerings, and their patient donor network.
WALTHAM, Mass., Jan. 9, 2023 /PRNewswire/ — Sanguine Biosciences ("Sanguine"), a leader in connecting patients with biopharmaceutical companies to accelerate precision medicine R&D and Cell & Gene Therapy, announced today a new investment from BroadOak Capital Partners, LLC ("BroadOak"), a leading direct investment and advisory firm focused on life science research tools, pharmaceutical services and diagnostics. The partnership with BroadOak enables Sanguine to expand its laboratory operations, leukapheresis offerings, and patient donor network.
This year, Sanguine was ranked #30 Best Small Workplaces and #7 Best Workplaces Biopharma small and medium companies by Fortune. Significant growth has prompted Sanguine to open a laboratory in San Diego. The lab provides pre-analytical specimen processing services to its biopharmaceutical customers. In October of 2022, Sanguine launched a new apheresis product family, providing researchers with large volume immune and hematopoietic stem cells from single donors with confirmed disease. The offering solves a major unmet need in life science R&D, particularly in the high-growth and high-impact cell & gene therapy arena.
"Covid-19's push towards in-home, decentralized and hybrid clinical trials validated our patient-centric model of biospecimen collection" according to Brian Neman, Co-Founder and CEO of Sanguine. He elaborated that expanding laboratory and apheresis services enables them to serve cell and gene therapy clients more effectively.
Since 2019, Sanguine has organically increased headcount more than four-fold, and revenue by three-fold, while maintaining profitability. Gerald Lee, Co-Founder and Chief Product Officer at Sanguine noted that "Opening the lab and starting the leukapheresis offerings essentially from scratch, meant we needed to add additional capital" to support their growing operations.
"Sanguine's differentiated model of obtaining biospecimens characterized with complete data directly from patients represents where the market is heading" noted BroadOak Vice President Aaron Fisher, who joined the Sanguine Board of Directors.
In translating bench discoveries into bedside treatments for patients, biopharmaceutical researchers utilize human biospecimens for biomarker development that can lead to innovative clinical applications. Sanguine Biosciences offers researchers access to a diverse, nationwide network of over 60,000 patient donors through partnerships with patient advocacy groups. Adding laboratory capabilities and leukapheresis products equips researchers with critical tools that shorten therapy development timelines and reduce costs.