Juventas plans $25M venture round in wake of PhI success

The CEO of Juventas Therapeutics, a spinoff of the Cleveland Clinic, says that now that the company has wrapped a successful Phase I trial of its lead stem cell therapy, it plans to raise $25 million in a Series B. The treatment takes stem cells from bone marrow to build new blood vessels as a treatment for critical limb ischemia. "The focus of the trial was safety, and we have seen clear safety for the doses that we've evaluated for all the patients, but we've also seen some encouraging signs of efficacy," CEO Rahul Aras tells MedCity News. The second round will be used to pay for a Phase II study, he adds. Report