New York Blood Center, a nonprofit organization that provides blood, infusion services and research to hospitals, is launching its first venture capital fund with $50 million to invest.
The fund will focus on early-stage life sciences companies working on therapeutics, medical devices and technologies, according to a May 11 NYBC news release.
"This is the first venture fund solely dedicated to advancing innovation in blood and cell-based therapies and technologies," Christopher Hillyer, MD, president and CEO of New York Blood Center and general partner at NYBC Ventures, said in the release. "NYBC Ventures provides companies more than capital, offering access to world-renowned researchers and their labs, cell manufacturing capacity and source materials."