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.
The full press release is below.
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.
Brian Neman, CEO and Gerald Lee, CPO and co-founder
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, and further cemented our leadership in specimen procurement,” explained Brian Neman, Co-Founder and CEO of Sanguine. “We recognized that our customers could further benefit if we applied our patients-first attitude towards preanalytical sample processing in our own laboratory, as well as offering Leukopaks from our extensive donor network. This investment bolsters our laboratory and apheresis initiatives so we can make an immediate, material, and positive impact for patients and our clients in cell and gene therapy,” he said. Sanguine delivered on both laboratory services and leukapheresis product offerings late in 2022.
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, “Opening the lab and starting the leukapheresis offerings essentially from scratch, meant we needed to add additional capital, as well as talent and training to our already growing team. Our current menu of services and selective partnerships with apheresis clinics are only the beginning. The infusion of funds, strategic insights, and confirmation of our business model from BroadOak couldn’t have come at a better time.”
“Like Sanguine, we recognized the value of putting patients front-and-center in the therapeutic development conversation,” said BroadOak Vice President Aaron Fisher. “Sanguine’s differentiated model of obtaining biospecimens characterized with complete data directly from patients represents where the market is heading. Furthermore, adding lab capabilities and Leukopaks to their offering opens Sanguine’s addressable market, especially to cell & gene therapy developers,” added Fisher, who recently 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, but the complexity of biologic- and cell-based therapies complicates the procurement and processing of relevant patient samples for research use. Sanguine Biosciences streamlines this process and offers researchers access to a diverse, nationwide network of over 60,000 patient donors through partnerships with patient advocacy groups and a robust recruitment apparatus. Adding laboratory capabilities and leukapheresis products equips researchers with critical tools that shorten therapy development timelines and reduce costs.