Human cell coding company bit.bio has closed a Series B financing of $103 million to accelerate the clinical development of the company’s cell coding technology opti-oxTM, a breakthrough gene engineering approach that enables unlimited batches of any human cell to be manufactured consistently at scale through direct reprogramming of stem cells.
The funding will also support the continued growth of the company’s ioCell product portfolio, in which opti-ox is used to create human cell products that offer consistency at scale and the cells are highly defined.
Access to ioCells reportedly enables bit.bio’s partners and customers to conduct translational research and drug development with physiologically relevant human cell models. The company says that using human cells to bridge the translation gap in drug development will improve chances of clinical success and the potential to unlock a new generation of medicines.
Mark Kotter, CEO at bit.bio said: “The capital will enable us to accelerate our clinical and commercial scale-up and to deliver cell therapies for every patient, everywhere.”
Image credit: Omid Haqsheno