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Fate Therapeutics Closes $30 Million Series B Financing
Date:11/16/2009

atment options."

Fate Therapeutics is developing its lead Stem Cell Modulator, FT1050, to enhance hematopoietic stem cell (HSC) proliferation and homing. The small molecule is currently undergoing clinical testing at the Dana Farber Cancer Institute and Massachusetts General Hospital in adult patients with hematologic malignancies, such as leukemia and lymphoma, who have undergone nonmyeloablative conditioning therapy and are in need of HSC support. The Phase 1b study is intended to determine the safety and tolerability of introducing FT1050 during the standard course of dual umbilical cord blood transplant and will also track HSC engraftment efficiencies and patient outcomes.

The Company's discovery engine utilizes the most advanced reprogramming technologies for generating cell types of interest to elucidate disease biology and identify targets for therapeutic intervention. Fate Therapeutics' protein-based reprogramming platform in combination with its novel small molecule conditions offers a highly efficient, non-viral, non-DNA based method to recapitulate human physiology for commercial scale drug discovery and therapeutic use. The Company has exclusively in-licensed from The Scripps Research Institute and the Whitehead Institute for Biomedical Research an intellectual property portfolio related to induced pluripotent stem cell (iPSC) technology, including filings that date back to November 2003. This portfolio includes the latest techniques published by Dr. Sheng Ding in October 2009, which use three small molecules to generate iPSCs in a manner that is 200 times more efficient than and twice as fast as conventional methods for reprogramming adult human cells.

"The Company is well-positioned to aggressively advance its leading iPSC technology platform for use in its own internal discovery programs as well as with strategic partners," said Scott Wolchko, chief financial officer of Fate Therapeutics. "With this Series B fina
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SOURCE Fate Therapeutics, Inc.
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