The New York Blood Center unveiled a $50 million investment fund, NYBC Ventures, on Thursday. The financing is tied to proceeds from a solvent detergent plasma process used for blood purification around the world, the patent for which NYBC owns.
The 60-year-old New York Blood Center, a nonprofit that delivers blood products, transfusion medicine services and blood research across 17 states, has created the NYBC Ventures fund to back startups working on benign hematology, infectious diseases, cell therapies, devices, transfusion medicine and other areas.
A new fund launched by New York Blood Center is aiming to be a syndicate partner for VCs investing in innovative blood products, including therapeutics developers and cell therapy manufacturers.
On Thursday, May 11, Wall Street Journal featured the article, “New Venture Fund Targets Innovations in Blood Research,” highlighting the work of New York Blood Center, and other healthcare nonprofits, to utilize venture capital to help startups treat diseases. The article elaborates on NYBC’s venture fund designed to invest in startups targeting conditions that do not typically garner … New Venture Fund Targets Innovations in Blood Research