PuREC, a clinical-stage biotech startup with unique MSC cell therapy “REC”, has raised JPY 7.0 billion ($5.8 million) with third-party allocation of shares underwritten by Mochida Pharmaceutical Co., Ltd., San-in Godo Bank Ltd. , The Gogin Capital Co., Ltd., and Professor Hiromitsu Nakauchi of Stanford University.
PuREC has been established in 2016 as a startup sprung from Shimane University in Japan. The biotech company promotes clinical application of highly purified mesenchymal stem cell, called REC (Rapidly Expanding Cells), which can be derived from human bone marrow through PuREC’s unique purification method.
In order to further accelerate future product development, PuREC has now raised a total of 700 million yen ($5.8 million) from Mochida Pharmaceutical, San-in Godo Bank, Gogin Capital, and Dr. Hiromitsu Nakauchi in equity This brings PuREC's cumulative fundraising to 1.37 billion yen ($11.4 million).
Based on this fundraising, PuREC will redouble its efforts to deliver regenerative medicine products utilizing REC as soon as possible toward many patients with unmet medical needs..
＜Comment from CEO of PuREC, Hideyuki Takahashi＞
I am very pleased to have this investment from Mochida Pharmaceuticals, our research collaborator, and San-in Godo Bank and its subsidiary, Gogin Capital, our main bank group since our inception. Also, I feel honored to have Professor Hiromitsu Nakauchi of Stanford University, a great leader in stem cell research field, as our investor. PuREC now solidified its solid financial base to accelerate the future development of various clinical applications of our REC cell therapy.