Seattle-based AVM Biotechnology is raising more cash for its technology that helps improve stem cell delivery.
AVM executive Michael Kuran confirmed an SEC filing that shows the company in the process of raising a $17.5 million round, but wouldn’t provide further details about investors or how the money will be used.
Founded in 2008 and led by CEO Theresa Deisher, AVM is not a stem cell company, but rather a “regenerative medicine company whose technologies optimize the biodistribution and clinical utility of exogenously delivered stem cells and naturally-occurring endogenous stem cells.”
The company employs fewer than 10 people and has raised just under $5 million to date. It’s one of about 800 life sciences companies in Washington state that employ nearly 100,000 people. There were more than $3 billion in life science transactions in 2015 in Washington state, up from $1.6 billion in 2014. Companies such as Juno Therapeutics, Adaptive Biotechnologies and organizations such as the University of Washington and the Fred Hutchinson Cancer Research Center are giving the industry new weight.