ExpressCells Completes Series A; Names Tom Anderson as Board Director

Company Opens Laboratory and is Commercializing Knock-in Cell Lines
By: ExpressCells, Inc.
 
 
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PHILADELPHIA - Sept. 26, 2019 - PRLog -- ExpressCells, Inc., a private genetic engineering company that creates knock-in cell lines for drug discovery, today announced at the PACT Capital Conference it has completed its Series A round. The company raised $400,000 in addition to the $800,000 first close announced on July 1. The total raise of $1.2 million is a 20% oversubscription.

Lead investors are the Rowan Innovation Venture Fund and Keiretsu Forum Mid-Atlantic. Additional investors include the Central Texas Angel Network, Robin Hood Ventures, and Ben Franklin Technology Partners of Southeastern Pennsylvania.

ExpressCells is using the funding to build its commercial and operational infrastructure. Since announcing the first close, the company has opened its lab and begun commercializing knock-in cell lines.

As part of this investment, Tom Anderson of Robin Hood Ventures has joined the Board of Directors of ExpressCells. Tom was the first Chief Commercial Strategy Officer of Sage Therapeutics, Inc. Tom recently retired from Sage and founded his own strategic advisory firm, TreD Avon Advisors, LLC. Between 2004 and 2014, Tom was a senior operating executive with Shire Pharmaceuticals in several strategic, CEO-advisory roles. Tom was previously President & CEO of Ranir-DCP Corporation, and EVP / COO with Claneil's Lander Company, Inc. Tom earned an MBA from the University of Notre Dame and a BS in civil engineering from Lehigh University.

"We are grateful to the new investors who joined our Series A," said Matt Handel, CEO of ExpressCells. "The funding from Ben Franklin, Robin Hood Ventures, and CTAN allows us to commercialize our novel plasmid technology. We can now provide faster, better cell models for drug discovery and other biological research."

Matt Handel added "We welcome Tom Anderson. Tom is a successful business leader whose wise counsel will enhance the forward progress of ExpressCells. It's an honor to have Tom as a Board Director."

About ExpressCells

ExpressCells is a private biotechnology company based in Philadelphia, PA. Its propriety genome editing technology, in combination with CRISPR/Cas9, produces advanced, knock-in cell lines to enhance drug discovery and other biological research. The company has shortened the time for delivery of knock-in cell lines by 75% relative to current technologies.

ExpressCells' first products are cells with genes that code for bioluminescent and fluorescent proteins. These allow scientists to visualize the results of their experiments in real time. ExpressCells sells both custom cell lines—each designed to meet the specific requirements of an individual scientist—and catalog cell lines.

ExpressCells' genetic engineering technology was invented at the Temple University School of Pharmacy by Oscar Perez-Leal, MD. ExpressCells holds a global, exclusive license on this technology. For more information, visit www.xpresscells.com.

Contact
Matthew Handel
mhandel@xpresscells.com
(484) 483-6759
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Tags:Financing
Industry:Biotech
Location:Philadelphia - Pennsylvania - United States
Subject:Executives
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