Words by GOLD newsdesk
French biotech startup Core Biogenesis has raised $10.5 million in Series A funding, pushing the company further in its steps to facilitate the evolution of the cell therapy industry.
Core Biogenesis’ technology uses flaxseed to produce proteins that are extracted and purified to create raw materials for use in pharmaceuticals. With this funding, the biotech seeks to produce growth factors and cytokines for the expanding cell therapy market by constructing a new facility, expected to be up and running by Q1 in 2023.
“The cell therapy market is at the forefront of future oncology, neurodegenerative disease, and personalised medicine treatments, with the market expected to grow from $9.2bn in 2021 to $65bn by 2027,” commented Alexandre Reeber, Chief Executive and Co-founder, Core Biogenesis. “Our technology drives down cell therapy manufacturing costs which will help to improve patient access to these life-saving therapies.”