BOSTON– NYBC Ventures, today announced the launch of its inaugural fund with a $50 million investment from New York Blood Center, Inc. (NYBC) to accelerate innovation in blood-related fields, and cellular therapies and enabling technologies. NYBC Ventures is an early-stage life sciences investment fund that will focus on investment in therapeutics, devices, and innovative technologies addressing the most pressing challenges in benign hematology, transfusion medicine, and infectious disease. The Fund’s mission is also to improve patients’ lives by advancing therapeutics, enabling platforms and technologies as well as drive strategic collaborations to further NYBC’s impact.
Founded more than 60 years ago, New York Blood Center provides lifesaving blood products, pharmaceuticals, high-quality clinical and laboratory services, and transfusion expertise to leading medical institutions in the U.S. New York Blood Center’s Lindsley F. Kimball Research Institute (LFKRI) is one of the world’s preeminent blood research organizations and has paved the way for new blood-related products, services, and therapies.
“This is the first venture fund solely dedicated to advancing innovation in blood and cell-based therapies and technologies,” said Christopher D. Hillyer, M.D., President and CEO, New York Blood Center Inc.; General Partner, NYBC Ventures. “NYBC Ventures provides companies more than capital, offering access to world-renowned researchers and their labs, cell manufacturing capacity and source materials.”
“NYBC Ventures is dedicated to supporting early-stage innovation that will drive the next generation of transformative therapies to improve patient care and outcomes,” said Meg Wood, MPH, Managing Director. “With our deep expertise in blood and cellular therapies, we are a trusted partner to founders who are solving some of healthcare’s biggest challenges, from new approaches to drug delivery and discovery, to the development of life-saving therapies. Our team is driven by mission-oriented innovation to make a positive impact on the world.”
NYBC Ventures employs a model of patient capital and takes a flexible approach to financing vehicles and structures. The fund has developed streamlined scientific and due diligence teams to evaluate investment opportunities.
NYBC Ventures is managed by an experienced deal team led by Christopher D. Hillyer, M.D, General Partner, Jay Mohr, General Partner, and Meg Wood, MPH, Managing Director, who collectively bring deep expertise in basic and clinical research, capital-raising, business and corporate development, and operations, from startups to complex organizations. The team works collaboratively with New York Blood Center’s deep roster of researchers, manufacturing teams, and operations colleagues.
The fund’s current portfolio includes Catena Biosciences, HealthQuest Capital, KaloCyte, Thymmune Therapeutics, StealthCo, and STRM Bio.