IRVINE, Calif., June 11, 2018 /PRNewswire/ -- AIVITA Biomedical, a global biotech specializing in innovative stem cell applications, announced today that it has raised $15 million in a private Series B financing round. The financing is provided by SFC Co. Ltd., a South Korean investor that is listed on the KOSDAQ Stock Exchange. The financing will support AIVITA's commercial and clinical-stage programs.
"This funding is a reflection of AIVITA's meteoric development since it was founded 18 months ago," said Dr. Hans Keirstead, CEO of AIVITA Biomedical. "It will allow us to expand our clinical cancer programs, broaden our consumer product offerings and bring in additional staff to manage our expansion."
AIVITA Biomedical has both clinical and commercial programs. AIVITA's lead therapeutic candidate is a novel patient-specific immunotherapy for the treatment of advanced cancers, currently being used to treat ovarian cancer.
AIVITA has also launched a consumer skincare line, ROOT OF SKIN™, as the world's first skin care product that mimics the environment of developing skin. Its proprietary actives complex, SourceCode Technology™, is exclusively manufactured in AIVITA's clinical-grade research facilities and available only in ROOT OF SKIN™ products. Importantly, 100% of proceeds from the sale of ROOT OF SKIN™ products support the treatment of women with ovarian cancer.
About AIVITA Biomedical
AIVITA Biomedical is a privately held company engaged in the advancement of commercial and clinical-stage programs utilizing curative and regenerative medicines. Founded in 2016 by pioneers in the stem cell industry, AIVITA Biomedical utilizes its expertise in stem cell growth and directed, high-purity differentiation to enable safe, efficient and economical manufacturing systems which support its commercial line of skin care products and therapeutic pipeline.
SOURCE AIVITA Biomedical