Safi Biotherapeutics Receives $4.7M Award Extension From US Department of War

Safi Biotherapeutics, a Cambridge, Massachusetts-based biotechnology company developing stem-cell-derived human red blood cells, has received a $4.7 million non-dilutive award extension from the US Department of War.

The funding was awarded through the Defense Health Program’s Combat Casualty Care portfolio and the Medical Technology Enterprise Consortium (MTEC).

The company will use the funding to advance the development of a readily transfusable, cryopreserved manufactured red blood cell (mRBC) formulation. The award will support activities leading to a planned Investigational New Drug (IND) submission for acute blood loss in 2027.

What is Safi Biotherapeutics?

Safi Biotherapeutics develops human red blood cells from stem cells for civilian and military transfusion needs.

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The company aims to manufacture red blood cells at a scale and cost that can support hospitals and other medical settings. Its technology is designed to provide a reliable alternative when donated blood supplies are limited.

Safi is developing several mRBC formulations, including refrigerated, cryopreserved and freeze-dried products. These are intended for acute transfusion needs, such as emergency treatment in civilian and military hospitals, as well as chronic conditions such as sickle-cell disease.

How Much Funding Has Safi Biotherapeutics Raised?

Safi Biotherapeutics has received a $4.7 million non-dilutive award extension from the US Department of War.

The source does not disclose the company's total funding raised or details of previous funding.

Who Provided the Award to Safi Biotherapeutics?

The award extension was provided by the Department of War through its Defense Health Program's Combat Casualty Care portfolio.

The funding was issued through the Medical Technology Enterprise Consortium (MTEC). It is non-dilutive, meaning the company does not have to give up equity in exchange for the award.

Why the Funding Matters

The funding will support the development of a cryopreserved mRBC formulation that can be stored and made available for transfusion when needed.

Safi plans to use the award for activities required to advance its product towards a planned IND submission for acute blood loss in 2027. This will support its preparation to enter clinical development.

The United States sees more than 10 million red blood cell transfusions each year. However, blood shortages can affect hospitals' ability to meet demand. Safi is working to address this supply challenge through the large-scale production of manufactured red blood cells.

Who founded Safi Biotherapeutics?

Safi Biotherapeutics was founded in 2020 by Doug McConnell and Jon Mogford. The company is headquartered in Cambridge, Massachusetts.

"A blood supply that depends on donors will always be fragile, whether on the battlefield, in a hospital setting, or in the aftermath of a mass casualty event," said Doug McConnell, Chief Executive Officer and Co-Founder of Safi Biotherapeutics. "Patients with chronic conditions, people undergoing medical procedures, and trauma victims all depend on a supply that is vulnerable to fluctuations.

Market and Business Growth

Safi reported that its manufacturing process can produce more than one full transfusable unit of red blood cells in a single 10-litre bioreactor.

The company said this progress provides a path towards producing mRBCs at clinical scale, which has historically been a major challenge for the field.

Its potential markets include acute transfusion settings in civilian and military hospitals, as well as chronic transfusion needs such as sickle-cell disease.

What Happens Next?

Safi plans to continue developing its cryopreserved mRBC formulation and advance the product towards clinical testing.

The company is targeting an IND submission for acute blood loss in 2027. The latest award extension will support the work needed to reach this milestone.

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