Policy & Regulation
Slingshot Biosciences Closes USD 23m in Series A Financing
26 July 2021 - - US-based biotechnology company Slingshot Biosciences has closed a USD 23m in a series A financing, the company said.

The investment was led by Northpond Ventures, with participation from ARCH Venture Partners and Anterra Capital.

The new funding will enable Slingshot to accelerate the commercialization of its synthetic cell products spanning controls, diagnostics, and adoptive cell therapies.

Adam Wieschhaus, PhD, director at Northpond Ventures, and Corey Ritter, Senior Associate at ARCH Venture Partners, will join the board of directors.

Slingshot will also invest heavily in its broader adoptive cell therapy and therapeutics platform with this growth financing.

Cell-derived products comprise the basis of important healthcare technologies worldwide. With respect to diagnostics, 750 blood samples are tested every second in the US alone, and each of these samples relies on cell-derived references for accurate measurement.

In addition, unlike most traditional pharmaceutical modalities, adoptive cell therapies critically depend on cell-derived control material, often self-generated, in order to assess manufacturing performance and product quality.

Historically, cell-derived reagents have been sourced from donors, both human and animal, to meet these needs, leading to supply chain constraints, high cost, and unwanted variability.

Operating in stealth since 2012, Slingshot focused its platform on tackling these issues while achieving key manufacturing milestones before launching its first suite of products in 2020.

With this additional financing, Slingshot is aiming its technology at the next generation of adoptive cell therapy tools and therapeutic modalities that can benefit from its synthetic cell engineering platform.

Slingshot Biosciences develops synthetic cells for a range of applications in diagnostics and therapeutics. Slingshot leverages advances in distributed manufacturing, engineering, and polymer chemistry to provide an industry-first, off-the-shelf solution for cell-like reagents that are stable, low-cost, and targeted toward a range of indications and markets.

Northpond Ventures is a science-driven venture capital firm. Northpond partners with leading scientists, academics, and entrepreneurs to develop and empower breakthrough science and technology that transforms humanity.

The firm has over USD 1bn in committed capital and offices in San Francisco, Cambridge, and Bethesda. Northpond was founded with a mission to build a better tomorrow.

Northpond Labs, the firm's research and development-focused affiliate, collaborates with universities, research centers, and scientists to fund translational research that is poised to be the foundation of new ventures and scientific discovery.

ARCH Venture Partners invests in advanced technology companies and is one of the largest early stage technology venture firms in the United States.

The firm is a recognized leader in commercializing technologies developed at academic institutions, corporate research groups and national laboratories.

ARCH creates and invests in companies with leading scientists and entrepreneurs, bringing innovations in life sciences and physical sciences to market.

With offices in Amsterdam and Boston, Anterra Capital is an international specialist venture capital investor dedicated to financing the growth of technology-driven companies with transformative potential in food, agriculture, and animal health.

Supported by multinational institutional investors, Anterra provides patient strategic capital to entrepreneurs and innovative companies sustainably transforming our global food system.