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GEN News Highlights : Apr 7, 2011

Cellular Dynamics International Closes $30M Series B Preferred Stock Round

CDI will use proceeds to launch new iCellĀ® iPSCs, raise production capacity for iCell Cardiomyocytes, and expand operations.

Cellular Dynamics International (CDI) closed on a $30 million private equity round. The company says that the money will enable it to launch new iCell® human induced pluripotent stem cells (iPSCs) as well as iCell Endothelial Cells, iCell Neurons, and iCell Hepatocytes lines, as well as increase production capacity for its iCell Cardiomyocytes.

The iCell Cardiomyocytes product line is the first commercial product based on stem cells grown from adult tissue using CDI's iPSC technology. The technology coaxes blood cells to turn back their developmental clock and become iPSCs. These cells can reportedly then be directed to develop into any of the human body's 200+ cell types.

The Series B preferred stock financing round was led by an entity affiliated with Tactics II Stem Cell Ventures, which along with its affiliates led the company’s prior capital rounds. Other investors in this round included Sam Zell's Equity Group Investments, Sixth Floor Investors, and G Force Investments. CDI has raised a total of $100 million since 2004.