Tuesday, July 14, 2009
StemCyte Gains $1M In Debt
Covina-based StemCyte, a venture-backed operator of an umbilical cord blood bank, has scored $1M in a debt funding round, according to debt financing firm Agility Capital. Agility said that the senior secured growth capital loan closed in June. StemCyte allows families to sore their baby's cord blood for possible future use in treating certain diseases. The firm has previously received venture funding from Sycamore Venture Capital, Asia Star IT Fund and National Technology Enterprise Co. of Kuwait, and the W.I. Harper Group. Agility is a provider of venture debt to high technology and other companies.