Phil Coelho is not a new person in the business world anymore. As the president and founder of SynGen Inc. five years ago (a company that regenerates cures by the use of innovative engineering), he proudly announced that the company received $5 million from a venture capital firm (Bay City Capital, LLC) in San Francisco to support the harvesting phase of cord blood stem cells.
The immediate goal of SynGen is to spread the availability of SynGen-1000 to cord blood banks. SynGen-1000 is a type of device used for the separation and storage of cord blood stem cells after it’s harvest from a newborn.
“We are delighted to have the opportunity to work with Bay City Capital to maximize SynGen’s potential. Their expansive knowledge of the global life science field and vast networking capability combined with a strong reputation as a top tier venture capital firm made our decision easy. During the due diligence process, BCC had already begun facilitating business relationships important for our accelerated growth and market expansion.”
The proceedings for the approval process through Food & Drug Administration is still on-going.
“We expect to file for 510(k) clearance with the FDA and to achieve CE marking for the SynGen-1000 in the near future. Subsequently, our advanced designs target emerging markets including stem cell research centers, hospitals practicing cell therapy in surgical suites and stem cell clinical trials.”
Dr. William Garber is an investment partner at Bay City Capital (BCC) said, “”We expect SynGen’s products will play a significant role in enabling clinical research and expanding the medical applications of regenerative medicine. Phil Coelho is an established innovator in the field of cord blood stem cell isolation and purification, and we are excited about expanding SynGen’s product line to address novel applications for adult stem cell therapies.”
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It’s confirmed cord blood stem cells can cure malignant diseases such as cancers (Acute Leukemia, Chronic Leukemia, Hodgkin & Non-Hodgkin Lymphoma and Myelodysplastic Syndrome), blood disorders, immune disorders, metabolic disorders, brain injury. cerebral palsy, type-1 diabetes and hearing loss. To search for cord blood banks, use BloodBanker – The largest online directory of blood, plasma and cord banks!
Source: The Sacramento Bee