Sentien Biotechnologies said today that it closed a $12 million Series A financing round, co-led by Boehringer-Ingelheim Venture Fund USA, Inc. and BioInnovation Capital. Chiesi Ventures, MBL Venture Capital Co. and Mass Medical Angels also contributed to the round.
The Cambridge, Mass.-based company said it plans to use the funds for initial clinical development of its drug-device combination product, SBI-101.
Sentien’s SBI-101 combines mesenchymal stromal cells with an approved blood-filtration device, which delivers MSC-secreted factors in a controlled, sustained manner to treat acute kidney injury
The company said that its product has a longer duration of cellular therapeutic activity compared to traditional cell therapy.
“Sentien has made remarkable progress in the short period of time since our seed investment and is ready to advance its first product, SBI-101, into the clinic,” BIVF, USA managing director Martin Heidecker said in prepared remarks. “We are excited to build on this momentum, along with the other leading investors in this Series A financing.”
“Sentien brings a skilled team and unique approach to regenerative medicine,” Dr. Johannes Fruehauf, general partner of BioInnovation Capital, added. “We look forward to working with Sentien to support its first clinical program and prepare the company for accelerated growth.”
Fruehauf and Giacomo Chiesi will join Sentien’s board of directors in connection with the round, according to Sentien.
“We are excited to have the support of such an accomplished group of investors,” CEO Brian Miller said. “We are now poised to move our lead product into the clinic, where we have the opportunity to treat AKI, a significant unmet medical need, and to continue to develop new applications for our novel approach to cell therapy.”