Aldagen, a Durham-based biopharmaceutical company developing proprietary regenerative cell therapies that target significant unmet medical needs, has raised $18.4 million in a new private round of financing.
The company said Wednesday that the financing was obtained from existing investors, including Intersouth Partners, Tullis-Dickerson, Harbert Venture Partners and The Aurora Funds. The company plans to use the proceeds raised in this financing to further advance the development of its four clinical-stage product candidates and for general corporate purposes.
Last week the firm announced it has begun a Phase III clinical trial of ALD-101, a drug to improve cord blood transplants that treat inherited pediatric metabolic diseases.
Aldagen has four product candidates in clinical trials.