Cook Regentec spinout Sexton Biotechnologies said today that it raised $5 million for the cell and gene therapy bioproduction tools it’s developing.
The company is Cook’s first to pick up outside investment capital and spin out as an independent biotechnology company, according to a news release. Sexton is made up of a 17-person team from Cook Regentec that’s developed, incubated and commercialized products since 2015.
Investors providing Sexton with growth capital included BioLife Solutions, Casdin Capital, BioCrossroads and Cook Regentec.
Sexton said it will add the funds to its ongoing R&D and expand commercialization of its portfolio of container closure and media supplementation tools. It expects be fully independent of Cook Regentec Oct. 1. The company will remain in Cook Regentec’s Indianapolis facility through 2024.
“The opportunity to work closely with partners of such deep expertise in the cell and gene therapy industry will drive new focus to continue our growth,” Sexton president Sean Werner said in the news release. “We appreciate the support of Casdin Capital, a leading healthcare hedge fund focused on making multiple thematic investments in biotech ecosystems including the cell and gene therapy space. We’re also excited for the opportunity to work with BioLife Solutions to leverage their sales and marketing expertise and resources as we work to expand our customer base. This new round of investment gives us additional resources to further develop and support our unique products while strengthening our connections in the thriving Indiana life sciences sector through the relationship with BioCrossroads.”