SOSV-backed Biotech Firm Cell BioEngines Decides New York Is the Place to Be

Cell BioEngines, Inc moves to Manhattan, New York, to leverage the city’s focus and strategic investment in biotech

NEW YORK, Jan. 13, 2024 (GLOBE NEWSWIRE) — Cell BioEngines, Inc., founded by visionary Dr. Ajay Vishwakarma aiming to turn cancer into a curable disease announced today that the SOSV-backed company will establish its executive headquarters in NYC, a hub for the fast-growing life-science ecosystem across New York state.

In a recent interview at IndieBio New York Demo Day on Sept 13, 2023, Dr. Vishwakarma mentioned that he established the company idea while performing his PhD research at Harvard in Boston, a top tier regional biotech cluster. But to translate actual science concepts to the clinic, he partnered with Mt. Sinai in New York licensing the rights to manufacture and commercialize stem cell and immune cell-based cancer immunotherapy research.

“I have spent most of my adult life in Boston biotech hub and witnessed how life sciences industry can ignite a regional economy. There is a unique desire amongst developers and leaders from New York to emulate and turn the city of New York into biotech innovation hub that rivals Boston and San Francisco. With the right companies working on breakthrough innovations that can anchor R&D lab in New York, this transformation is possible,” said Dr. Ajay Vishwakarma, MBA, Founder and CEO of Cell BioEngines, Inc.

“New York/New Jersey has made impressive strides catching up to the longer-established Boston/Cambridge ecosystem. One area of marked improvement is venture capital and remains fifth ($1.84 billion in 2022 and $650 million in Q1-Q2 2023), according to PitchBook. To tot up, on Dec 3, 2023, New York City announced reinstatement of refundable biotech tax credits for emerging companies through 2026 to bolster New York’s life sciences sector. This is a testament to New York State’s dedication to attract new businesses in biotech to locate, invent, commercialize, and produce in New York State,” he added.

About Cell BioEngines

Cell BioEngines, Inc., is a clinical-stage biotech company focused on developing ‘off-the-shelf’ allogenic cell therapies as ‘drugs’ to turn all cancers into curable diseases. The company leverages its proprietary Stem-SPACE™ platform technology to produce clinical-grade cells at economies of scale. The company’s versatile platform and pipeline allows them to pursue a broad range of cell and gene therapy product candidates in therapeutic areas of interest with high clinical and commercial potential.

Contact
Mark Joubert., J.D.
Chief Legal Officer

Cell BioEngines, Inc.
info@cellbioengines.com