Johnson & Johnson-backed ViaCyte raised $5.4m through a sale of series C-1 preferred stock, with proceeds to fund development of its diabetes treatment.
ViaCyte, the US-based developer of cell therapy technology to treat diabetes, raised $5.4m on Friday through a sale of series C-1 preferred stock to undisclosed investors.
The company, which counts pharmaceutical company Johnson & Johnson among its past investors, did however reveal that a not-for-profit corporation and several individuals participated in the offering.
ViaCyte is working on a stem cell-derived islet cell replacement therapy to treat diabetes. The new funds will be used to fund clinical development of its VC-01…
