Celgene spinoff debuts with big names, big bucks and big hopes
Celgene spinout Celularity has raised $250M from Celgene, United Therapeutics, Sorrento Therapeutics, Human Longevity, and other venture capitalists.
Dr. Bob Hariri is founder, chairman and CEO of Celularity. Dr. Peter Diamandis, is co-founder and vice chair. The company’s board includes ex-Apple CEO John Sculley; the first CEO of Google Ventures and Calico creator Bill Maris; and former FDA commissioner Andrew Von Eschenbach.
The NJ-headquartered biotech has 200 employees and is expected to grow 25% in the next 18 months. Their aim is to develop cells from placentas against blood cancers and is founded on the use of cord blood taken from placentas after childbirth. Its business plan has several segments.
