ExpressCells Inc., a private genetic engineering company that creates knock-in cell lines for drug discovery, has completed its Series A round, raising $400,000 in addition to the $800,000 first close announced on July 1. The total raise of $1.2 million is a 20 percent oversubscription.
Lead investors are the Rowan Innovation Venture Fund and Keiretsu Forum Mid-Atlantic. Additional investors include the Central Texas Angel Network, Robin Hood Ventures, and Ben Franklin Technology Partners of Southeastern Pennsylvania.
ExpressCells is using the funding to build its commercial and operational infrastructure. Since announcing the first close, the company has opened its lab and begun commercializing knock-in cell lines.
As part of this investment, Tom Anderson of Robin Hood Ventures has joined the Board of Directors of ExpressCells. Tom was the first Chief Commercial Strategy Officer of Sage Therapeutics, Inc. Tom recently retired from Sage and founded his own strategic advisory firm, TreD Avon Advisors, LLC. Between 2004 and 2014, Tom was a senior operating executive with Shire Pharmaceuticals in several strategic, CEO-advisory roles. Tom was previously President & CEO of Ranir-DCP Corporation, and EVP / COO with Claneil's Lander Company, Inc.