Hemanext Announces Close of Series B-2 Equity Funding Round

Associated Press

27-01-2025

PR.com)-- Hemanext Inc., a leading innovator in blood processing, storage, and transfusion technology, announces close of series B-2 equity fundraising round. The B-2 fundraising was launched in May 2024 to raise $16-20 million and was completed in October 2024, raising just over $20 million at a pre-money valuation of $115 million or $0.25 per share. Hemanext has recently reached the financial close of the round, with support coming from both existing and new investors in nearly equal measure.
Hemanext expects the $20 million raised to support achievement of several real-world commercial objectives through June 2025, specifically:
1. Achieve successful implementation in the United States (US) and Europe across a variety of blood establishment categories. Progress towards this goal has already been made in the US, Greece and Norway.
2. Gather real world evidence on the performance and benefits of Hemanext ONE® across various hospitals, therapeutic areas, and countries, involving thousands of transfusions.
3. Establish pricing for a broader commercial launch in the US and EU after June 2025, supported by contractual outcomes and the HCPCS reimbursement pricing in the US.
Delivering effective performance in the second half of 2025 (H2) for customers currently working to implement Hemanext ONE is projected to result in more than $10 million in sales from this group in 2026.
Andrew Dunham, Chief Executive Officer of Hemanext, expressed his enthusiasm for the conclusion of the B-2 fundraising round, stating, 'We are thrilled to have reached our $20 million goal in this challenging funding environment for early commercial phase medical device companies. On behalf of everyone at Hemanext, we extend our gratitude to our existing investors for their ongoing trust and support, and we warmly welcome our new investors as we work together to transform transfusion.'
About Hemanext
Hemanext is a privately held medical technology company based in Lexington, MA that is dedicated to improving the quality, safety, efficacy, and cost of transfusion therapy. The company's research and development efforts focus on the study of hypoxically stored RBCs. The company's aim is to significantly improve the quality of stored RBCs worldwide.
Visit Hemanext.com to learn more about the Company.
About Hemanext ONE
Hemanext ONE has been granted marketing authorization for commercial distribution via the De Novo process by the U.S. Food & Drug Administration. It is intended to process and store CP2D/AS-3 Red Blood Cells, Leukocytes Reduced (LR RBC) that have been prepared within the standard 8-hour hold time. Processing of Red Blood Cells processed with the Hemanext ONE system must be initiated within 8 hours of collection and completed within 12 hours of collection. The Red Blood Cells must be processed at room temperature (20-26°C). The Hemanext ONE system limits O2 and CO2 levels in the storage environment. Red Blood Cells Leukocytes Reduced, O2/ CO2 Reduced may be stored for up to 42 days at 1-6°C. Hemanext ONE is used for volumes no greater than 350 mL of LR RBC.
In Europe, Hemanext ONE is CE marked, which allows its commercial distribution within the market of the European Economic Area (EEA).
The Hemanext ONE RBC Processing and Storage system limits oxygen, the fuel for oxidative damage, providing a higher quality blood product(1,2,3). It has the potential to benefit all patients requiring transfusion for chronic conditions, such as thalassemia(4), sickle cell disease (SCD)(5), and myelodysplastic syndromes (MDS)(6), as well as those in need of critical transfusions during acute bleeding in surgery, trauma and other medical procedures(7).
Hemanext ONE creates hypoxic RBCs, RBCs that have been processed to reduce oxygen and carbon dioxide content of RBCs and to maintain these levels throughout storage up to 42 days(3). Hypoxic RBCs have demonstrated positive impacts on multiple in vitro metrics of RBC quality in preclinical studies(8,9). Clinical studies are underway to determine the impact of hypoxic RBCs on patient outcomes and estimate potential cost savings from expected improvements in care and reductions in transfusion volumes(10).
Hemanext Media Contact
Robert Haime
[phone]
References
1. Rabcuka J, Blonski S, Meli A, et al. Metabolic reprogramming under hypoxic storage preserves faster oxygen unloading from stored red blood cells. Blood Adv. 2022;6(18):5415-5428. doi: 10.1182/bloodadvances.2022007774
2. Reisz JA, Wither MJ et al. Oxidative modifications of glyceraldehyde 3-phosphate dehydrogenase regulate metabolic reprogramming of stored red blood cells. 2016;128(12): e32-42.
3. HEMANEXT ONE® (Blood container set used to process and store CP2D/AS-3 Red Blood Cells, Leukocytes Reduced, and O2/CO2 Reduced) [US Instructions for Use]. Lexington, MA: Hemanext Inc.
4. Farmakis D, Porter J, Taher A, et al. 2021 Thalassemia International Federation Guidelines for the management of transfusion-dependent thalassemia. 2022;6:8.
5. Chou S, Alsawas M, Fasano R, et al. American Society of Hematology 2020 guidelines for sickle cell disease: transfusion support. Blood Adv. 2020;4:2.
6. Germing U, Oliva E, Hiwase D, and Almeida A. Treatment of anemia in transfusion-dependent and non-transfusion-dependent lower-risk MDS: current and emerging strategies. 2019;3(6). doi: 10.1097/HS9.0000000000000314
7. American College of Surgeons. ACS TQIP massive transfusion in trauma guidelines. ACS TQIP. 2014; https://www.facs.org/media/zcjdtrd1/transfusion_guildelines.pdf.
8. Yoshida T, Blair A, D'Alessandro A, et al. Enhancing uniformity and overall quality of red cell concentrate with anaerobic storage. Blood Transfus. 2017;15(2):172-81.
https://hemanext.com