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Garuda Therapeutics Receives $62M for Blood Stem Cell Therapy

Garuda Therapeutics Receives $62M for Blood Stem Cell Therapy

Cambridge, MA-based Garuda Therapeutics closed a $62 million series B funding round to support its off-the-shelf, self-renewing blood stem cell technology.

Northpond Ventures, OrbiMed, Cormorant, Aisling Capital, Mass General Brigham Ventures and other “elite investors and individuals” are backing the biotech company.

The startup launched 15 months ago with $72 million in Series A funding, with the aim to use its cell therapy to potentially cure over 70 diseases. Since then, it has identified a further 50 which could benefit from stem cell treatment.

Its therapy uses proprietary hematopoietic stem cells, which will be faster and more effective, and lead to greater patient accessibility. Using a patient’s own depleted cells or finding a biological donor match is both costly and time prohibitive, according to the company.

CEO and co-founder Dhvanit Shah said the goal is to best the existing treatments by improving consistency, scalability, durability, availability of healthy donors and affordability.

Garuda added to its C-suite last year with the hires of technology chief David DiGiusto, who was previously CTO at biomanufacturer National Resilience, Roger Sawhney as CFO, which follows a similar role at mRNA biotech Omega Therapeutics, and James Desiderio as chief regulatory officer.

Cormorant managing director Raymond Kelleher joined the board, which also includes Shah, OrbiMed’s Carl Gordon, Aisling’s Eric Aguiar, Northpond’s Daniel Janse, Decibel Therapeutics CEO Laurence Reid and Resilience CEO Rahul Singhvi.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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