Celularity, a spinoff of biotech giant Celgene, announced that it has raised $250 million with the aim of developing cells from placentas to treat cancer and Crohn’s disease.
The Warren, New Jersey-headquartered biotech is productizing allogeneic cells and tissues derived from the postpartum placenta. They then will use these materials to augment immunity and longevity by amplifying the body’s ability to fight disease, heal, and regenerate itself.
Founded by Dr. Bob Hariri, former CEO of Celgene Cellular Therapeutics, the company has backing from Celgene, Sorrento Therapeutics, Human Longevity, and United Therapeutics, as well as other venture capitalists.
Read the Forbes article