Stem cell lab supplier hauls in $14M

A startup company looking to sell reagents and tools to stem cell researchers hauled in $14 million in Series A cash on the same day the field got a big boost from Uncle Sam.

HealthCare Ventures and Morgenthaler Ventures led the round for Stemgent, according to PE Hub. And the company, which has operations in Cambridge, MA and San Diego, has signed up a roster of high-profile talent for its scientific advisory board. The board includes Bob Langer from MIT--who's been behind a long lineup of biotech startups--Harvard University's Douglas Melton and Sheng Ding of the Scripps Research Institute.

The company is being helmed by Ian Ratcliffe, who has considerable experience selling reagents to biologists, notes Xconomy. He had been president of the Upstate Group, which was sold to Serologicals for $205 million in 2004.

- read the report from Xconomy