Acorn Biolabs is a Toronto-based biotechnology startup that preserves hair follicle–derived stem cells for future regenerative medicine and personalized cosmetic uses. Its core product is a non-invasive, hair follicle-based cell cryopreservation service and associated storage subscription, collected at participating clinics and preserved indefinitely. The company plans to expand its commercial footprint, grow clinic partner sites and hire a sales team to support dermatology and plastic surgery practices while developing personalized topical skin and hair care products built from clients' own follicles. Acorn launched its stem cell banking service in Canada and the U.S. last year and reported cumulative patient growth of more than 10 percent monthly in 2023. The 21-person team says it holds a first-mover advantage in hair follicle-based stem cell cryopreservation and will use the new capital to invest in direct-to-consumer advertising and in-clinic promotion. Financially, the company has raised over $13.6 million CAD to date, and expects the Series A to accelerate its business and product launches. Acorn Biolabs provides a patented, non-invasive hair-follicle stem cell collection, live-cell analytics, genetic analysis, and cryopreservation service delivered as a monthly subscription. The company positions its offering as up to 80% more cost-effective than the industry average and aims to give patients access to cells for future regenerative and precision-medicine needs. Acorn’s service includes next-generation genetics and live-cell analytics to support personalized biological care. The company is backed by investors including Real Ventures, Globalive, Pool Global Partners and Epic Capital Management. In April 2021 MCI Onehealth announced a $250,000 strategic investment in Acorn and a commercial partnership to roll out Acorn’s services through MCI clinics. Through that partnership Acorn’s service is slated for availability across MCI’s network, expanding its potential patient reach. Acorn Biolabs offers an at-home solution to collect and preserve the genetic material contained in hair follicles, avoiding invasive clinic procedures. The company says it has developed a proprietary media that keeps cells viable during transport to its labs for processing. Acorn positions its service as a lower-cost alternative, targeting banking costs of less than $1,000 versus typical full-genome banking costs of $2,000–$3,000, and annual storage fees of roughly $100. The company does not currently provide downstream therapeutic services on the back end. Acorn argues stored youthful cells and genomic data could be valuable as targeted genetic and regenerative therapies advance, and plans to use the data to power studies in the future. The company is Toronto-based and led by CEO Dr. Drew Taylor.

Total raised

$12M

Funding rounds

3

Latest round

Series A

Latest activity

Jun 2024