Oxford-based biotech firm Hemostatix has raised £120 million in Series C funding to begin large-scale clinical trials of its lab-grown synthetic blood, which could end global shortages of rare blood types.
The funding round was led by a consortium of global healthcare investors and the UK's National Security Strategic Investment Fund. Hemostatix's technology uses modified stem cells to produce red blood cells that are universally compatible and free from pathogens.
"This is a potential game-changer for emergency medicine and surgery," said the CEO. "Our goal is to create a sustainable, on-demand supply of blood that doesn't rely on human donors."
The company plans to use the capital to build a high-capacity manufacturing facility in the Thames Valley, creating 200 high-skilled jobs. If the trials are successful, the product could be in use in hospitals by 2028.
