Recapitalization Propels Key Growth Initiatives
SAN DIEGO, September 29, 2022--(BUSINESS WIRE)--iXCells Biotechnologies ("iXCells" or the "Company"), a high growth provider of cell-based products and discovery services to the academic, biotech and pharmaceutical communities worldwide, with special focus on primary and induced pluripotent stem cell ("iPSC") derived cellular models, today announced receiving a growth investment from Connecticut-based Great Point Partners ("GPP"), a private investment firm focusing on the healthcare industry.
"iXCells is delighted to join GPP’s portfolio of companies operating within the rapidly growing biotech manufacturing and DD&D services space," said Dr. Lynn Zhang, CEO and co-founder. "We’re grateful for GPP’s support of our vision to translate human cell technology into innovative solutions that advance cell biology research and drug discovery. Our partnership with GPP is a critical step forward for our Company’s growth journey."
iXCells President and co-founder, Dr. Nianwei Lin added, "Our customers will clearly benefit from the deployment of additional capital towards key growth initiatives that will increase iXCells’ operational capacity, expand our product/service offering and bioanalytical capabilities. In particular, we’ll be strengthening our ability to service unmet market needs in areas of personalized medicine including rare diseases. We’re very much looking forward to collaborating with GPP’s management team and broad network to advance iXCells’ mission for the benefit of all stakeholders."
Noah Rhodes, Managing Director at GPP, commented, "Lynn and Nianwei have done an exceptional job building a rapidly growing company serving academic, biotech and pharma clients with best-in-class drug discovery solutions and disease-relevant cellular models. We were extremely impressed by the scientific expertise the management team has built within the organization, and we look forward to helping them expand their product and service offering into adjacent high-growth end markets."
About iXCells Biotechnologies
Founded in 2014 and based in San Diego, CA, iXCells Biotechnologies is an innovative cell biology and cell technology company that provides preclinical drug discovery solutions with the focus on disease relevant cellular models enabling technologies and services to the academic, biotech and pharma communities to accelerate the pace of drug discovery. iXCells offers customers access to high quality primary and iPSC derived cells, custom iPSC services, functional bioassay development and drug screening. To learn more about this innovative leader within the preclinical iPSC sector, visit www.ixcellsbiotech.com.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with 30 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new minority and majority private equity investments from GPP IV. Great Point manages $1.5B of capital in its private funds and public life sciences equity strategy (BioMedical Value Fund). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 200 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, alternate site care, medical device and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies.
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President and Co-Founder