Dallas-based venture capital family office HEST Investments announced its successful Special Purpose Vehicle (SPV) of a $1.8 million investment in Baltimore-based Secretome Therapeutics, which has a presence at BioLabs at Pegasus Park in Dallas.
HEST said the investment, finalized on August 9, marks “a significant milestone in its ongoing commitment to advancing first-in-class leaders in the biotech market.” The VC family office is known for its focus on innovative and bleeding edge ventures, which refers to technology that’s further ahead than cutting-edge or leading-edge technology.
“We’re thrilled to support Secretome Therapeutics in its mission to revolutionize regenerative medicine,” Don Huffines, CEO of HEST Investments, said in a statement. “At HEST, our philosophy is to see beyond the obvious and invest in ventures that have the potential to make a transformative impact for humanity. This investment in Secretome aligns perfectly with our vision of driving innovation and changing the perspective of how we advance human health.”
According to HEST, Secretome Therapeutics is a pioneering company in the field of regenerative medicine and is at the forefront of developing revolutionary solutions aimed at harnessing the power of secretomes, naturally occurring molecules that promote healing and regeneration.
Aiding Secretome’s progress through human trials
The newly secured capital will play a crucial role as Secretome Therapeutics continues its progress through human trials, bringing its innovative therapies one step closer to market, HEST said.
“This investment comes at a pivotal moment as we advance our lead asset, STM-01, into two Phase I clinical studies next quarter,” Vinny Jindal, president and CEO at Secretome Therapeutics, said in a statement. “The support from HEST Investments provides us with capital and aligns us with a partner who shares our vision for making groundbreaking advances in healthcare.”
HEST Investments’ portfolio includes ventures in life sciences, biotech and cybersecurity, with a strong emphasis on identifying and supporting companies that challenge the status quo. Its involvement in this SPV investment underscores HEST’s dedication to backing companies that are not only innovative but also capable of driving substantial change in their respective fields.
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