NYBC Ventures launches with $50M for blood and cell therapies

NYBC Ventures has unveiled as one of the first venture funds to focus solely on advancing new blood and cell-based therapies, with $50 million in hand from the New York Blood Center.

The fund will invest in new therapeutics, devices and tech that tackle challenges in benign hematology, transfusion medicine and infectious disease. The inaugural fund already touts a portfolio that includes Catena Biosciences, HealthQuest Capital, KaloCyte, Thymmune Therapeutics, StealthCo and STRM Bio.

Alongside capital investment, NYBC Ventures provides access to researchers, cell manufacturing capacity and source materials, Christopher Hillyer, M.D., general partner for NYBC Ventures and CEO of the New York Blood Center, said in a May 11 release.

The early-stage life sciences investment fund has received its inaugural $50 million from nonprofit New York Blood Center. As one of the largest independent, community-based blood centers in the world, the New York Blood Center provides blood products, drugs, clinical and lab services, and transfusion expertise to medical institutions across the U.S.

NYBC joins the list of several new biotech VCs emerging this year, including Curie.bio, Dimension and Cures Ventures.