Heartseed Raises $37 Million in Series C Funding to Accelerate Development of iPSC-derived Stem Cell Therapy for Heart Failure
June 11 2021 - 3:00AM
Business Wire
Heartseed, a Tokyo-based biotechnology company developing
iPSC-derived cardiomyocytes for heart failure (HF), today announced
it has raised 4 Billion-yen (approx. $37 Million) at Series C
round, bringing its total financial backing to 8.2 Billion yen
(approx. $75 Million) since its foundation in 2015.
New investors are UTokyo Innovation Platform Co. (UTokyo IPC),
Medical Incubator Japan, Keio Innovation Initiative (KII), and
Sumitomo Mitsui Trust Investment. Among the existing investors, SBI
Group, Nissay Capital, SMBC Capital, Medipal Holdings, and Itochu
Chemical Frontier participated in this round.
Heartseed will use the new funds to accelerate the initiation of
global clinical trial of HS-001 for HF as well as to confirm its
proof of concept in Phase 1/2 LAPiS study in Japan. Additionally,
Heartseed will also examine a less invasive administration such as
transendocardial injection using a catheter.
“Heartseed has made a strong progress in our research and
development of our cardiac remuscularization therapy, as proved by
the clearance of clinical trial application of Phase I/II LAPiS
Study by the Japanese Pharmaceutical and Medical Agency and many
awards we received.” said Professor. Keiichi Fukuda, co-founder and
CEO at Heartseed. “The commitment from both new and existing
investors in this round is a strong validation of our technology
and strategic vision. With their support, we look forward to
accelerating our development to deliver potentially curative
therapy for heart failure across the globe.”
About HS-001
Heartseed's lead pipeline, HS-001, is allogeneic iPSC-derived,
highly purified ventricular cardiomyocyte spheroids. By forming
micro-tissue-like spheroids, retention rate and viability of cell
transplant are improved. The spheroids are transplanted using a
special administration needle (SEEDPLANTER®) and guide adapter
developed for safe and efficient administration of the spheroids
into the myocardial layer of the heart.
The expected mechanism of action is that the transplanted
cardiomyocytes electrically couple with the patient's myocardium to
improve cardiac output by remuscularization, and secretion of
angiogenic factors to form new blood vessels around the transplant
site (neovascularization).
The review of the Clinical Trial Application of a phase I/II
clinical trial (LAPiS Study) evaluating the safety and efficacy of
HS-001 for the treatment of heart failure caused by ischemic heart
disease in Japan was successfully completed in March 2021 by
Japan's Pharmaceutical and Medical Devices Agency.
For details: http://www.heartseed.jp/en/index.html
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Kikuo Yasui, COO, Heartseed Inc. +81-3-6380-1068
kikuo.yasui@heartseed.jp