This funding will be used to support KaloCyte as it scales up in advance of human trials

BALTIMORE--(BUSINESS WIRE)--KaloCyte, Inc., a developer of bio-inspired red blood cell substitute ErythroMer™, today announced it has closed an investment from New York Blood Center, Inc. (NYBC).

KaloCyte recently concluded a successful pre-IND meeting with the Food and Drug Administration. The investment from NYBC will support operational scale up as KaloCyte prepares for human trials.

“The COVID-19 pandemic has reinforced the tenuous nature of our nation's blood supply. We believe KaloCyte’s technology and lead program show promise for a safe, effective red blood cell substitute that could save lives when perishable donor blood is not available,” said Jay Mohr, Chief Financial and Business Officer of NYBC. “Our investment is indicative of our belief in the strength and quality of KaloCyte’s science, data and leadership.”

Read the full release from KaloCyte.