Some clouds. Low 84F. Winds SSE at 10 to 15 mph..
Some clouds. Low 84F. Winds SSE at 10 to 15 mph.
BALTIMORE--(BUSINESS WIRE)--Jul 20, 2022--
KaloCyte, Inc., a developer of bio-inspired red blood cell substitute ErythroMer™, today announced it has closed an investment from New York Blood Center, Inc. (NYBC).
KaloCyte recently concluded a successful pre-IND meeting with the Food and Drug Administration. The investment from NYBC will support operational scale up as KaloCyte prepares for human trials.
“The COVID-19 pandemic has reinforced the tenuous nature of our nation's blood supply. We believe KaloCyte’s technology and lead program show promise for a safe, effective red blood cell substitute that could save lives when perishable donor blood is not available,” said Jay Mohr, Chief Financial and Business Officer of NYBC. “Our investment is indicative of our belief in the strength and quality of KaloCyte’s science, data and leadership.”
“NYBC’s leadership in blood component supply and transfusion medicine research is a perfect fit as we advance the development and commercialization of ErythroMer,” said Elaine Haynes, President and Chief Executive Officer of KaloCyte. “We are thrilled to have NYBC as an investor in KaloCyte.”
In the US alone, 30,000 trauma victims die unnecessarily from blood loss because they are too far from a treatment center. On the battlefield, blood loss accounts for 90% of potentially survivable deaths. These deaths occur because perishable donor blood is simply not available in time to save those lives. Throughout the COVID-19 pandemic, blood centers across the country experienced prolonged blood shortages due to the impact of canceled blood drives and stay at home orders.
KaloCyte’s mission is to make an easy-to-use, shelf-stable red blood substitute available anywhere and at any time. Pre-clinical data demonstrate that the ErythroMer red blood cell substitute safely emulates the oxygen-carrying function of red blood cells. ErythroMer is purpose-designed: Easy to store, transport, and use in an ambulance, on the battlefield, or during extreme and prolonged emergencies. It can be easily and rapidly used, simply by reconstituting with water.
With the closure of this investment, KaloCyte is now focused on raising its Series A equity round, expected to close by late 2022. The Series A will fund IND-enabling studies and Phase 1 clinical trials for ErythroMer’s primary indication as an oxygen carrier when perishable blood is not available.
KaloCyte is redefining future emergency treatment for victims of traumatic blood loss with its first-in-class product ErythroMer, a dried red blood cell substitute that is easily transported and rapidly administered for when perishable donor blood is unavailable.
Backed by over $10M in investor and federal grant funding, KaloCyte’s groundbreaking research is succeeding where others have tried and failed, poised to serve an untapped $7 billion U.S. market.
Learn more at www.kalocyte.com.
About New York Blood Center
Founded in 1964, New York Blood Center (NYBC) is a nonprofit organization that is one of the largest independent, community-based blood centers in the world. NYBC, along with its operating divisions Community Blood Center of Kansas City, Missouri (CBC), Innovative Blood Resources (IBR), Blood Bank of Delmarva (BBD), and Rhode Island Blood Center (RIBC), collect approximately 4,000 units of blood products each day and serve local communities of more than 75 million people in the Tri-State area (NY, NJ, CT), Mid Atlantic area (PA, DE, MD, VA), Missouri and Kansas, Minnesota, Nebraska, Rhode Island, and Southern New England. NYBC and its operating divisions also provide a wide array of transfusion-related medical services to over 500 hospitals nationally, including Comprehensive Cell Solutions, the National Center for Blood Group Genomics, the National Cord Blood Program, and the Lindsley F. Kimball Research Institute, which — among other milestones — developed a practical screening method for hepatitis B as well as a safe, effective and affordable vaccine, and a patented solvent detergent plasma process innovating blood-purification technology worldwide.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220720005229/en/
KEYWORD: UNITED STATES NORTH AMERICA MARYLAND
INDUSTRY KEYWORD: HEALTH HOSPITALS CLINICAL TRIALS RESEARCH SCIENCE CARDIOLOGY BIOTECHNOLOGY
http://www.businesswire.com/news/home/20220720005229/en
Your comment has been submitted.
There was a problem reporting this.
Real Names required. No pseudonyms or partial names allowed. Stand behind what you post. Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language. Don't Threaten. Threats of harming another person will not be tolerated. Be Truthful. Don't knowingly lie about anyone or anything. Be Nice. No racism, sexism or any sort of -ism that is degrading to another person. Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Please log in, or sign up for a new account and purchase a subscription to read or post comments.
Start your morning with the top headlines each day.
Receive email alerts anytime there is breaking news or a severe weather alert.
Get the latest local and national sports headlines delivered to your inbox every morning.
Plan your fishing trips with Capt. Joe Kent's Reel Report every evening.
Receive Laura Elder's Biz Buzz direct to your inbox every Sunday.
Receive the daily weather forecast and the weekly outlook in your inbox each morning.
Receive an email notification each time resident weather expert Stan Blazyk writes a new article.
ICYMI is a weekly newsletter highlighting stories from the past week. Wether they were the most important, most read or most talked about we want to make sure you read them. ICYMI also features select historical content.
Receive the most recent obituaries every afternoon.
Get a link to the latest e-Edition delivered to your inbox each morning.
Receive updates on the latest issues of Coast Monthly.
Receive the latest Dear Abby column in your inbox each morning.
Receive special offers from The Daily News and select partners including discounts, contests and more.
Check your email for details.
Invalid password or account does not exist
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the e-mail address listed on your account.
Thank you. Your purchase was successful.
A receipt was sent to your email.