PlateletBio is pioneering an entirely new platform of cell-based therapeutics based on platelet biology
ALEXANDRIA, Va. & WATERTOWN, Mass. –(BUSINESS WIRE)–Oxford Finance LLC (“Oxford”), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced the closing of a $20 million senior secured term loan with PlateletBio (or “the Company”), a preclinical-stage biotechnology company pioneering an entirely new platform of allogeneic cell therapies based on platelet biology.
The funds will be used for general working capital and to advance the development pipeline of the Company’s lead platelet-like cell (“PLC”) program as a novel therapy for Immune Thrombocytopenia (“ITP”), an autoimmune disease, and further develop its unique engineered PLC (“ePLC”) platform and advance its proprietary manufacturing capabilities.
PlateletBio is a Massachusetts-based developer of platelet-like cells (“PLCs”) capable of performing vital biological functions and able to be engineered into multiple allogeneic therapies. Since the Company’s founding, the team has developed a proprietary, biomimetic bioreactor-on-a-chip to produce PLCs and established in-house cGMP manufacturing capabilities. PlateletBio is now focused on advancing a diverse pipeline of next-generation cellular therapies for applications in hematology, inflammation and autoimmune diseases.
“PlateletBio has a novel and proprietary approach to treating autoimmune and other indications using immunoprivileged PLCs with the potential to match or improve upon the efficacy of current treatments with fewer side effects,” said Christopher A. Herr, senior managing director at Oxford. “Oxford is happy to provide capital to support the Company’s innovative platform with promising treatment potential and a significantly better risk/side-effect profile.”
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $7 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/
Inspired by the biological function and versatility of platelets, PlateletBio is pioneering the next generation of safer, more effective cell therapies. Its cell therapy platform produces “platelet-like cells” (PLCs) capable of performing vital biological functions and able to be genetically engineered into multiple allogeneic cell therapies. The company, based in Watertown, Massachusetts, is focused on advancing a diverse pipeline of next-generation cellular therapies for applications in autoimmune diseases, hematology, and inflammation. Visit www.plateletbio.com for more information.