Platelet BioGenesis

About Platelet BioGenesis

Platelet BioGenesis is a preclinical-stage biotechnology firm focused on developing a method to produce functional human platelets from stem cells, aiming to create a donor-independent supply for transfusions and therapeutic applications. The company was spun out of Harvard University in 2014, founded by Dr. Jonathan Thon, Dr. Joseph Italiano, and Sven Karlsson. The foundation of the company stems from Dr. Thon's postdoctoral research at Harvard Medical School with Dr. Italiano, where they developed a biomimetic, microfluidic bioreactor that replicates the physiological conditions of bone marrow to trigger platelet production. Karlsson, with a background in financial analysis and venture capital, joined to lead the business and commercialization efforts.

The company's core technology centers on a patented, scalable bioreactor that uses induced pluripotent stem cells (iPSCs) to generate megakaryocytes, the precursor cells to platelets. This bioreactor mimics the architecture and shear forces of blood flow found in bone marrow, which significantly increases the yield of functional platelets compared to static culture methods. The process involves two main steps: first, differentiating iPSCs into megakaryocytes, which can be frozen and stored indefinitely, and second, thawing these precursor cells and using the bioreactor to trigger the production and release of platelets on demand. This creates a significant advantage over donated platelets, which have a short shelf-life of only five to seven days and risk bacterial or viral contamination.

Platelet BioGenesis operates in the regenerative medicine and cell therapy markets, addressing the chronic shortage of platelets needed for patients undergoing cancer therapy, surgery, and trauma care. Its business model involves creating a consistent, on-demand, and safer supply of platelets (PLTs+™) to sell to hospitals and medical centers. Beyond transfusions, the company is developing platelet-based therapeutics, leveraging the natural delivery capabilities of platelets to carry drugs for cancer and other diseases. The firm has secured substantial funding through multiple financing rounds, including a $10 million Series A in 2017 and a $26 million Series A-1 in 2019, with investors like Qiming Venture Partners and Ziff Capital Partners. It has also received significant non-dilutive funding, including a $56 million contract from the U.S. government's Biomedical Advanced Research and Development Authority (BARDA) to develop platelets as a medical countermeasure for radiological and nuclear events, and a $3.5 million grant from the Department of Defense.