Developing synthetic cells for a range of applications in diagnostics and therapeutics
February 06, 2023 06:00 AM Eastern Standard Time
EMERYVILLE, Calif.--(BUSINESS WIRE)--Slingshot Biosciences, a biotechnology company building the world’s first on-demand synthetic cell platform for customizing cell and cell line mimics, today announced the closing of $11 million in a Series A3 financing.
The investment was co-led by ARCH Venture Partners and, with participation from Anterra Capital. The new funding will enable Slingshot to accelerate the successful commercialization of its revolutionary technology for cell and gene therapies. Slingshot will also further its adoptive cell therapy and therapeutics platform with this financing.
“Slingshot’s synthetic cell platform will have a transformative impact on a wide range of critical healthcare markets, including cell and gene therapy,” said Corey Ritter of ARCH Venture Partners. “All of us at ARCH are excited to work with the Slingshot team to make these synthetic cell products widely accessible to address research, diagnostics, and manufacturing needs, while advancing their functional synthetic cell efforts.”
“After successfully building our commercial footprint in controls and diagnostics last year, we are thrilled to accelerate our strategic efforts for biopharma applications, specifically cell and gene therapies,” said Jeffrey Kim, PhD, Founder, CEO, and President of Slingshot. “Customer traction is phenomenal, and we are excited to double down on our commercialization and development efforts for cell and gene therapy customers.”
Cell-derived products are essential to healthcare technologies worldwide. Seven hundred and fifty (750) blood samples are tested every second in the U.S. alone, and each of these tests relies on cell-derived references for accurate measurement.
With this additional financing, Slingshot is developing the next generation of adoptive cell therapy tools and therapeutic modalities that can benefit from its synthetic cell platform. Slingshot will also further invest in its functional cell programs for biopharma applications.
About Slingshot Biosciences
Slingshot Biosciences develops synthetic cells for a range of applications in diagnostics and therapeutics. Slingshot leverages advances in distributed manufacturing, engineering, and polymer chemistry to provide an industry-first, off-the-shelf solution for cell-like reagents that are stable, low-cost, and targeted toward a range of indications and markets. www.slingshotbio.com.
About ARCH Venture Partners
ARCH Venture Partners invests in advanced technology companies and is one of the world’s leading early-stage technology venture firms. The firm is a recognized leader in commercializing technologies developed at academic institutions, corporate research groups and national laboratories. ARCH invests primarily in companies it co-founds with leading scientists and entrepreneurs, bringing innovations in life sciences and physical sciences to market. www.archventure.com.
About Northpond Ventures
Northpond Ventures is a multi-billion-dollar science-driven venture capital firm based in Cambridge, MA; San Francisco, CA; and Bethesda, MD. Northpond has consistently been named one of the most active lead life science investors by both Crunchbase and Silicon Valley Bank. It is deeply engaged in the academic ecosystem, having founded The Laboratory for Bioengineering Research and Innovation at Harvard’s Wyss Institute; launched the MIT-Northpond Program - Advancing Life Science & Engineering Innovation; and sponsored a prize for women entrepreneurs at MIT. It has led or co-led over 60 financings over the past several years and sits on the board of the vast majority of these businesses. www.npv.vc.
About Anterra Capital
With offices in Amsterdam and Boston, Anterra Capital is an international specialist venture capital investor dedicated to financing the growth of technology-driven companies with transformative potential in food, agriculture, and animal health. Supported by multinational institutional investors, Anterra provides patient strategic capital to entrepreneurs and innovative companies sustainably transforming our global food system. www.anterracapital.com.