ACelleRX Closes Series A Financing
October 9, 2008, Cleveland, OH--ACelleRX Therapeutics, a spin-off from the Cleveland Clinic Foundation, has raised $6.9 million in a Series A financing, the company announced. The round was led by Triathlon Medical Ventures, with significant participation from Early Stage Partners, Fletcher Spaght, and existing investors.
The company is developing Stromal Derived Factor, or SDF-1, to repair damage to heart and other tissue. SDF-1 is a universal recruiter of a body's own stem cells to areas of damaged tissue.
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Early Stage Partners Managing Director Mike Bunker sits on the Juventas (formerly ACelleRX) board.