Madison stem cell technology firm secures $18 million in venture financing

Cellular Dynamics International Inc., a Madison-based developer of stem cell technologies for drug development and medicine applications, closed an $18 million Series A financing round at the end of October.

The round was led by Tactics II Stem Cell Ventures LP, with participation by Tactics II Ventures LP and the Wisconsin Alumni Research Foundation.

"Closing a venture round in early October was truly remarkable," said David Snyder, chief financial officer of CDI. "Even during a major financial market downturn, business leaders in Milwaukee as well as WARF continue to provide the critical financial backing for our efforts to build a world-leading stem cell company."

- Advertisement -

On Monday, the company announced that it was merging its sister companies Stem Cell Products Inc. and iPS Cells Inc. into CDI. All three companies were founded by Dr. James Thompson, a stem cell researcher at the University of Wisconsin. The combined CDI now has almost 60 employees, the company said.

Sign up for the BizTimes email newsletter

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

What's New

BizPeople

Sponsored Content

BIZEXPO | EARLY BIRD PRICING | REGISTER BY APRIL 15TH & SAVE

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
BizTimes Milwaukee