panCELLa Inc. announced today that it has recently raised $1 million in seed funding from Chiefswood Holdings Limited. This is the first outside capital for the company.
Mississauga, Ontario based panCELLa aims to provide “FailSafe Cell Therapy” for the treatment of degenerative and malignant diseases.
“We are very pleased with this strategic investment in panCELLa’s technology” said Greg Hood, COO of panCELLa. “Today’s funding represents a significant step towards commercialization of our “FailSafe Cell Therapy”. With panCELLa’s “FailSafe System” we have the capability to define, quantify and decrease the risk of cell therapy.”
Dr. Keating and Dr. Nagy, panCELLa’s founding partners, further noted that with panCELLa’s patented technology, it is their mission to offer safe, cost-effective “off-the-shelf” cell therapies for all humankind. Dr. Keating, CMO, was recently awarded the inaugural Lifetime Achievement award from the Canadian Hematology Society for his contribution and impact on the field. Dr. Nagy, President and CSO, is renowned for establishing Canada’s first embryonic stem cell lines and discovering a novel non-viral method to reprogram somatic cells into pluripotent cells (iPSC).
Incorporated in August 2015, panCELLa was founded by Dr. Andras Nagy and Dr. Armand Keating based on Dr. Nagy’s ground-breaking work in the area of stem cell research.
Through panCELLa, Dr.’s Keating and Nagy are seeking to create an effective cell therapy derived from stem cells, which are modified to provide a sufficient and very high level of safety before and after the cells are introduced to the patient.
panCELLa partners with companies developing cell therapies from embryonic (ES)and induced pluripotent (iPS). With these therapeutic applications come critical and important challenges – uncontrolled proliferation and genetic mutations — that pose safety risks to patients. panCELLa offers a technological solution to these challenges.
panCELLa, with its proprietary FailSafe Cells, has the capability to define, quantify and decrease the risk of cell therapy to an absolutely negligible level, accelerating cell therapies to patients. It is panCELLa’s objective to create universal, cost-effective, “off the shelf” fail-safe therapeutic cell products and to assist the pharmaceutical and biotechnology sectors in creating their own FailSafe cell lines.
photo credit: panCELLa