SynGen, Inc., based in Sacramento, California, develops instrument systems for harvesting stem and progenitor cells from umbilical cord blood, bone marrow, peripheral blood, and cell culture. Its product suite includes the SynGenX-1000 System as well as SynGenX-Lab and the CellWashPRO devices for stem cell processing. The company will use the latest financing to make first sales of the SynGenX-1000 System to cord blood banks and to continue commercialization of SynGenX-Lab and CellWashPRO. Bay City Capital has been the primary investor, initially putting $5M into a Series A in April 2012 and subsequently providing additional financing. Financing has been provided in the form of convertible notes; the most recent notes increased total investment to $10M. SynGen is led by President and CEO William Gerber. SynGen invents and commercializes automated electromechanical medical devices and single-use sterile plastic cartridge disposables to isolate and capture stem and progenitor cells from peripheral and umbilical cord blood, bone marrow, and adipose tissue. The company has a 510(k)-approved bench-top system for isolating stem cells. Its products are positioned as an enabling platform for diagnostic, research, and clinical processes in regenerative medicine. SynGen says the financing will support the company’s commercialization efforts for its devices. CEO Phil Coelho stated GE Capital provided a credit facility tailored to accommodate the growth phase the company is entering and that SynGen looks forward to a long-term relationship. GE Capital noted its support for commercialization of a device that harvests adult stem cells from blood or bone marrow for clinical use in regenerative medicine. SynGen develops single-use sterile plastic cartridge disposables mated to dedicated, highly automated electromechanical medical devices to isolate and capture stem and progenitor cells from peripheral and umbilical cord blood, bone marrow, and adipose tissue. Its products address diagnostic, research, and clinical applications. The company's lead product is the SynGen-1000 platform, which it intends to commercialize initially for cord blood banks. SynGen completed a $5M Series A financing to accelerate commercialization of the SynGen-1000. The company expects to file for 510(k) clearance with the FDA and to achieve CE marking for the SynGen-1000 in the near future. Subsequent designs will target emerging markets including stem cell research centers, hospitals practicing cell therapy in surgical suites, and stem cell clinical trials. The company is led by president and CEO Phil Coelho.

Total raised

$8M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Feb 2014