Stemgent Nails Down $14M to Make Supplies, Tools for Stem Cell Researchers

Xconomy Boston — 

Stemgent, a startup in Cambridge, MA, and San Diego that makes consumable materials for stem cell research labs, has raised $14 million in venture capital, according to PE Hub.

The company’s backers include HealthCare Ventures and Morgenthaler Ventures, according to PE Hub. CEO Ian Ratcliffe didn’t immediately return a phone call seeking comment about the deal.

Stemgent aims to sell proprietary reagents and tools for stem cell researchers, according to its website. The company has assembled an all-star roster of supporters on its scientific advisory board, including MIT’s Bob Langer, Bob Weinberg, and Rudolf Jaenisch; Harvard University’s Douglas Melton; Harvard Medical School’s Leonard Zon; and Sheng Ding of the Scripps Research Institute.

Stemgent’s financing was certainly well-timed, coinciding today with President Obama’s decision to lift federal funding restrictions on embryonic stem cell research enacted in 2001 by the Bush Administration. Those rules limited researchers receiving federal research dollars to working on a small number of existing stem cell lines.

Ratcliffe joined Stemgent with a background in the business of selling consumable reagents to biologists. He worked previously as president of Upstate Group, which was acquired by Atlanta-based Serologicals for $205 million in 2004, according to this story last year in Mass High Tech.

By posting a comment, you agree to our terms and conditions.

5 responses to “Stemgent Nails Down $14M to Make Supplies, Tools for Stem Cell Researchers”

  1. Nodis says:

    Stemgent hired an international employee by promising him working visa sponsorship. Two weeks before the visa application deadline, they fired him without giving him a warning, without giving him a specific reason. Is this just coincidence or Stemgent has totally taken advantage of international employees?
    Who cares about credibility? This company is all about money yet in the glorious name of “benefit world stem cell research”.

  2. Hopkinson says:

    Sheridan Snyder was the President and CEO of Upstate Group until the company was sold to Serologicals in 2004. Ratcliffe then became the President of the Upstate division of Serologicals for a short time.