Seraxis develops stem cell–derived pancreatic islet replacement therapies aimed at transforming care for people with Type 1 and insulin-requiring Type 2 diabetes. Its lead program, SR-02, is an off-the-shelf islet replacement therapy slated to enter clinical testing with immunosuppressive therapy in 2024 for patients with severe recurrent hypoglycemia. A follow-on program, SR-03, is a genetically modified pancreatic cluster designed to be unrecognized by the immune system for use without chronic immune suppression. The company will use a $400,000 Maryland Stem Cell Research Fund grant to accelerate characterization and efficacy testing of the preclinical SR-03 cell line as part of IND development. Seraxis’ proprietary technology uses a stem cell line derived from a single highly compatible human donor pancreas that preferentially re-differentiates into pure pancreatic clusters, which the company says offers safety, potency, and manufacturing advantages over embryonic and induced pluripotent stem cells. Seraxis manufactures its therapeutic pancreatic clusters in a cGMP facility in Maryland’s I-270 Biotech Corridor and is backed by Frazier Life Sciences, Polaris Partners, Eli Lilly, the T1D Fund and independent investors. Seraxis is a Germantown, Md.-based biotech developing a cell replacement therapy for insulin-dependent diabetes. Its lead program, SR-01, is a cell therapy intended to treat insulin-dependent diabetes. The company has developed a proprietary human stem cell line, SR1423, and a manufacturing process to generate lab-grown pancreatic islets that mimic native islets in purity and potency. Seraxis also developed SeraGraft, an implant device and method designed to enable survival and function of the cell replacement therapy without immune suppression. The company plans to use the Series C proceeds to complete preclinical testing of SR-01 and to initiate first-in-human clinical trials. Seraxis is led by founder and CEO William Rust, PhD.

Total raised

$40M

Funding rounds

2

Latest round

Grant

Latest activity

Jun 2024