Growth capital supports current, future innovative product development and commercialization
INDIANAPOLIS–(BUSINESS WIRE)–Sexton Biotechnologies announced today that it has raised $5 million in growth capital and is the first company incubated by Indianapolis-based Cook Regentec to secure outside investment capital and spin out as an independent biotechnology company. In addition to ongoing research and product development, Sexton Biotechnologies will expand and scale commercialization of its portfolio of container closure and media supplementation tools for cell and gene therapy bioproduction.
Sexton Biotechnologies products include the CellSeal platform of containers and fill systems and the Stemulate®, n-Liven PR®, and T-Liven PRTM human platelet lysate (hPL) products. CellSeal is based around the benefits of a rigid, cryo-compatible closed vial and the flexibility to fit into cell and gene therapy processing methods.
Sexton Biotechnologies plans to continue building on its platform to bring novel solutions to cell and gene therapy manufacturing operations allowing flexible integration to accelerate process development. The line of hPL-based supplements includes a standard pooled platelet lysate, an irradiated pooled platelet lysate (PR), and the recently launched T-cell activity verified PR product.
The investment group providing growth capital for Sexton Biotechnologies includes BioLife Solutions (NASDAQ:BLFS) a leading developer and supplier of cell and gene therapy bioproduction tools, Casdin Capital, BioCrossroads and Cook Regentec.
“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. 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,” said Sean Werner, president of Sexton Biotechnologies. “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.”
Sexton Biotechnologies is comprised of a 17-person team from Cook Regentec, including Werner who was an executive leader on the product team. This team developed, incubated and commercialized the products since 2015. The company will lease production and office space inside Cook Regentec’s facility located in the 16 Tech Innovation District through 2024, maintaining continuous operations in the existing manufacturing facilities.
Sexton Biotechnologies will be fully independent of Cook Regentec after the closing, which is scheduled for October 1, 2019.
For more information about Sexton Biotechnologies, please visit the website at www.sextonbiotechnologies.com.
About Sexton Biotechnologies
Sexton Biotechnologies is a revenue stage, biotechnology company focused on the development and sales of bioproduction tools for cell and gene therapy founded in 2019 as a spin out of Cook Regentec, a business and medical technology incubator located in Indianapolis, IN. Sexton develops purpose-built CGT tools and media to enable flexible automation and scaling of cell manufacturing processes to increase the probability of positive clinical outcomes and reduce time-to-market, failure points, and labor costs. Sexton’s portfolio includes the CellSeal platform of cryo-storage tools and fill/finish systems and human platelet lysate growth supplements. More information at www.sextonbiotechnologies.com.
About Cook Regentec
Cook Regentec is an Indianapolis, Indiana-based business and medical technology incubator focused on early stage technologies in regenerative medicine and advanced therapeutics. Its inaugural portfolio of early stage companies includes three separate ventures in the areas of bio production tools, veterinary cell therapies and medical devices for delivery of advanced therapeutics. www.cookregentec.com.
About BioLife Solutions
BioLife Solutions is the leading developer, manufacturer and supplier of proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media for cells and tissues. Our proprietary HypoThermosol® and CryoStor® platform of solutions are highly valued in the regenerative medicine, biobanking and drug discovery markets. Our biopreservation media products are serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death; offering commercial companies and clinical researchers significant improvement in shelf life and post-preservation viability and function. www.biolifesolutions.com.
BioCrossroads advances Indiana’s signature strengths in the life sciences by connecting with corporate, academic and philanthropic partners; facilitating investments in promising start ups; building new enterprises; and educating through conferences, reports and market development knowledge. Funding for this investment is part of the Indiana Seed Fund III. www.biocrossroads.com.
About Casdin Capital
Casdin Capital, a life science long-term hedge fund, was founded in 2012 and brings a deep understanding, expertise and long-term perspective to financing the next generation of life science innovation. www.casdincapital.com.