San Diego based regenerative medicine company, Personalized Stem Cells, Inc. (PSC), has secured $2.5 million in a Series A round of financing led by seed investors and key opinion leaders in the field. The funds will enable PSC to complete the current FDA approved osteoarthritis clinical trial and to initiate clinical trials for Traumatic Brain Injury and Back Pain. The funds will also enable conduct of a clinical trial for treatment of COVID-19 patients with stem cells, expected to enroll starting by early August.
CEO of PSC, Dr. Bob Harman, stated, “We are pleased to welcome our new investors into the PSC family. Securing funding during these uncertain times is evidence of the strong belief in the power of regenerative medicine and in the PSC business model to deliver this critical therapy to patients.”
Dr. Peter Hanson, Board-Certified Orthopedic Surgeon with 28 years of clinical experience and more than five years’ experience with Regenerative Medicine, stated, “I am honored to be part of the PSC investigator group. Based on my experience with stem cell therapy, I did not hesitate to participate. PSC is a vital leader in advancing stem cell therapy and providing treatment options for orthopedics as well as medical conditions with limited treatment options.”
PSC received FDA approval and initiated a clinical trial for treatment of knee osteoarthritis in their first year of operation. The Series A funding will allow for expanded and accelerated clinical trials. PSC anticipates additional milestone events including FDA approval of its landmark COVID-19 clinical study and completion of enrollment in its knee osteoarthritis phase 1/2a clinical study. After achieving these milestones, PSC anticipates an additional stock offering at a higher valuation.