Vancouver-based biotechnology company STEMCELL Technologies Inc has secured $15 million in financing from BDC Capital’s Growth and Transition Capital division. Established in 1993 by Dr. Allen Eaves, the company’s president and CEO, STEMCELL develops specialized reagents, tools and services supporting research in global cell biology and regenerative medicine. The funding partnership with BDC Capital will help STEMCELL continue to grow through expansion of its research and manufacturing facilities and development of new technologies and infrastructure to support its customer base of biomedical scientists.
Photo: Dr. Allen Eaves, president and CEO of STEMCELL Technologies Inc.
STEMCELL Technologies Secures 15-Million Dollar BDC Capital Investment
Vancouver, Canada, February 8, 2018—STEMCELL Technologies, a leader in developing specialized reagents, tools and services supporting global research in cell biology and regenerative medicine, today announced that it has secured $15 million (CAD) in financing from BDC Capital’s Growth and Transition Capital division.
“This investment by BDC Capital will help drive STEMCELL’s already rapid growth by supporting the expansion of our research and manufacturing facilities,” stated Dr. Allen Eaves, President and CEO of STEMCELL Technologies. “The financing will also enable us to develop new technologies and infrastructure to support our growing customer base of biomedical scientists performing cutting-edge research around the world, and will ultimately accelerate the transition of therapies from bench to bedside.”
“With impressive growth since its founding, facilities in 11 countries outside Canada and sales in more than 70, STEMCELL has become a global leader in its field and is emerging as a Canadian champion in the biotech space,” said BDC Capital’s Rob Dennison, Director, Growth & Transition Capital in Vancouver. “This financing will help STEMCELL further develop its already successful product portfolio, and expand its manufacturing capabilities to move into new markets within the biomedical research space.”
As Scientists Helping Scientists, STEMCELL Technologies is committed to providing high-quality cell culture media, cell isolation tools, accessory products and scientific services for life science research. Driven by science and a passion for quality, STEMCELL’s 2500 products are designed to support science along the basic to translational research continuum. To learn more, visit www.stemcell.com.
About BDC Capital
With more than $2 billion under management, BDC Capital is the investment arm of BDC, serving as a strategic partner to Canada’s most innovative and high potential firms. It offers a range of equity, venture capital and flexible growth and transition capital solutions to help Canadian entrepreneurs scale their businesses into global champions. To find out more, visit bdc.ca/capital.
Photo courtesy of STEMCELL Technologies Inc