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StemBioSys raises $4.3M; sees itself as a “different company” ready to leverage new funding
May 18, 2018

StemBioSys Inc. CEO Bob Hutchens says the San Antonio biotech is on track to significantly expand its product portfolio. CARLOS JAVIER SANCHEZ | SABJ

By W. Scott Bailey–Senior Reporter, San Antonio Business Journal

StemBioSys Inc. has closed on a $4.3 million Series B funding, giving the San Antonio-based biotech a significant fiscal boost as its march to market continues.

The extra capital comes as StemBioSys is evolving into a more formidable player with an increasingly diverse portfolio of products.

“The big thing about this funding is that it will let us build out our commercial opportunities,” StemBioSys CEO Bob Hutchens told me. “This lets us build out the product pipeline.”

StemBioSys has hired a chief marketing officer. And it’s directing more of its focus to branding the company nationally and internationally.

After securing $8 million in its Series A round and now more than half that amount with the recent Series B raise, the company seeks to maximize its momentum, Hutchens said.

In June, StemBioSys will be in Melbourne, Australia, for the International Society for Stem Cell Research’s 2018 global conference. The event is expected to attract some 3,500 attendees, including international media.

It’s an opportunity for the San Antonio biotech to extend the reach of its branding and commercialization efforts.

“StemBioSys is now a different company,” Hutchens said. “If you look back at November, we had one product. We are on track to add four new cell lines by June.”

Launched in 2011 with technology developed at UT Health San Antonio, StemBioSys has leveraged a single cell expansion platform into a company positioned to roll out an extensive line of cell products and technologies.

Simultaneously, it has been assembling a distribution network to support commercialization of its products nationally and internationally.

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