$12M funds new stem cell company

With the help of lead contributers ARCH Venture Partners and Polaris Venture Partners, Seattle-based Fate Therapeutics has rounded up $12 million in VC. The company is developing drugs that spur dormant adult stem cells to regenerate damaged tissue. Unlike other developers, Fate's approach to stem cell research focuses on traditional therapeutics, such as small molecules and protein therapeutics, to direct cell fate--most other stem cell companies have researched cell therapy using harvested cells from cord blood or other tissues.

"We have looked at investing in many stem cell companies, but the science and commercial reality just wasn't there yet," said Robert Nelsen, founding partner of ARCH Venture Partners, whose firm co-founded Fate. "Now is the perfect storm; the right biology breakthroughs; a targeted way to use real drugs; and the leading scientists, entrepreneurs, and investors--all in the same company to develop breakthrough medicines."

- see Fate's release
- read the Seattle Times article