CHARLOTTESVILLE, Va., May 7, 2014 /PRNewswire/ -- HemoShear, the human disease biology company, today announced the completion of a C-1 equity offering raising $8.7 million. Since its inception in 2008, HemoShear has secured a total of $22 million in private equity financing, as well as $10 million in funding from NIH and other state and federal sources. In addition to private and public sources, HemoShear's partnerships with major pharmaceutical and biotechnology companies have been an important source of funding to expand its scientific platform and business base.
"We are pleased with the confidence our private investors continue to show by providing capital needed for the growth of our company," said Jim Powers, CEO, HemoShear. "Recognition of how our proprietary human disease biology platform, scientific expertise and analytics deliver unique value to drug discovery and development is reflected by the growth in number of our partnerships with pharmaceutical and biotechnology companies."
This offering will support a number of investments to grow the Company. HemoShear will soon relocate its operations to state-of-the-art facilities in Charlottesville, Virginia. The new facility will address current needs and support future expansion. In addition, this new capital will allow the Company to accelerate development of human disease systems, including those for tumors and rare diseases, as well as recruit scientific and bioinformatics expertise.
"This is an important time for HemoShear," said Mehmood Khan, M.D., HemoShear board member and Chief Scientific Officer of PepsiCo. "As the pharmaceutical industry increasingly recognizes that the Company's science can de-risk drug R&D programs and differentiate drug candidates, we need growth capital to build the infrastructure and advance the technology for larger engagements with our partners."
HemoShear, the human disease biology company, develops and applies first-in-class human disease systems to create safer and more effective therapies for patients. By integrating its proprietary technology, scientific expertise and advanced discovery and predictive analytics, HemoShear provides a unique lens to interpret biological mechanisms and human disease. The Company is changing the way drugs are discovered and developed, departing from traditional scientific methods and animal studies in favor of biological systems that more accurately represent human response. HemoShear works in partnership with pharmaceutical and biotechnology companies spanning discovery through clinical applications to uncover new targets, resolve previously unknown mechanisms, identify novel attributes of drugs and select candidates with superior efficacy and safety profiles. Through its innovative science, HemoShear's mission is to profoundly impact human health. THINK HUMAN.
For additional information, visit: www.hemoshear.com.
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