News: Portfolio 2007

Safeguard Scientifics Leads $8.7 Million Series B Financing For Cellumen, Inc.

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methods and technologies. Cellumen has positioned itself to address this need."

 

Cellumen uses cells and surrogate systems to optimize the drug discovery process. The company's functional biology approach puts a variety of bio-sensors and cell manipulation reagents in different types of cells, and examines their response to drugs and biologics. This measures efficacy and potential toxicity well before entering expensive clinical testing. In addition, it is also projected to improve clinical trial enrollment and increase new drug efficacy by conducting theranostic patient profiles.

 

"Our objective is to partner with entrepreneurial life sciences companies that address three major themes: the aging population, high cost of medical care and high cost of drug development," said James A. Datin, Executive Vice President and Managing Director of Life Sciences at Safeguard. "Through systems biology, Cellumen is striving to be the leading provider of proprietary solutions for pharmaceutical companies, to drive down costs and increase the efficacy of drug development and clinical trials. We are eager to support Cellumen's vision as part of the Safeguard team. Furthermore, Dr. Taylor has a extraordinary background as a world class scientist coupled with his role as a seasoned life sciences entrepreneur."

 

Dr. Lansing Taylor, President and CEO of Cellumen, stated, "Safeguard's extensive commercial experience in the life sciences space complements our deep technical knowledge. As a result of this financing, our company will continue to flourish in this next growth phase, as we reap the benefits of access to Safeguard's strategic, operational, and management resources. It promises to be an exciting and productive partnership."

 

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