The investment from NYBC Ventures advances Functional Fluidics’ research that may improve diagnostic outcomes in Sickle Cell Disease and Transfusion Medicine
BOSTON, December 7, 2023 (GLOBE NEWSWIRE) – New York Blood Center Enterprises (NYBCe) announced today that its venture fund, NYBC Ventures, has invested in Functional Fluidics to advance research in sickle cell disease and transfusion medicine. Functional Fluidics, a CLIA-certified diagnostics laboratory specializing in red blood cell health, will use the funds to expand its services to Africa and develop the next generation of red blood cell health assays with the potential to improve diagnostic outcomes in sickle cell disease (SCD), transfusion medicine, and other hematological disease areas.
SCD is a globally prevalent genetic disorder that affects more than 100,000 Americans and more than 7 million people worldwide. In the US, sickle cell disease accounts for 1 in every 365 Black or African American births and 1 in every 16,300 Hispanic American births. NYBCe has been leading the effort on transformative therapies for SCD through exceptional research, innovation, blood compatibility and availability, strategic partnerships, and widespread community support. The investment in Functional Fluidics research is the latest effort in the organization’s mission to expand its humanitarian impact on global public health.
“Improving outcomes for sickle cell disease patients is a priority for NYBCe. We are working to mitigate the effects of this devastating disease and its impact on affected populations in the United States and across the world,” said Karina Yazdanbakhsh, PhD, Vice President and Director of Research Development, New York Blood Center Enterprises.
“The ability to improve the health of red blood cells through medications and gene therapy is one of the most significant medical breakthroughs of our lifetime, and has the potential to improve health outcomes, starting in people living with sickle cell disease,” said Patrick Hines MD, PhD, Founder and CEO of Functional Fluidics. “At Functional Fluidics, our vision of defining red blood cell health on a global scale will ensure that the right therapies reach the right patients at the right time.”
NYBCe has demonstrated leadership in addressing SCD through many humanitarian initiatives including:
- Advancing research at the molecular level, leading to novel therapeutic approaches, under the direction of Karina Yazdanbakhsh
- Pioneering NYBCe’s PreciseMatch® initiative which employs genomic testing and artificial intelligence to match patients with donors, beyond ABO and Rh, which will lead to improved treatment outcomes
- Improving access to blood donation centers in diverse communities to expand supply for sickle cell patients
- Partnering with community SCD organizations to provide education, advocacy, referral services, and support for individuals and families living with SCD
- Raising awareness about the prevalence of SCD and the need for more blood donations
About NYBC Ventures
NYBC Ventures is an early-stage life sciences investment fund dedicated to accelerating innovations in blood and cellular therapies and related technologies. The fund invests in therapeutics, devices, and innovative technologies addressing the most pressing challenges in our key areas of focus. The fund’s mission is to improve patients’ lives by advancing therapeutics, enabling platforms and technologies as well as driving collaborations to further NYBC’s impact. For more information, visit nybcventures.org.
About New York Blood Center Enterprises
For 60 years, New York Blood Center Enterprises (NYBCe) has been one of the largest independent, community-based blood centers in the world. NYBCe collects approximately 4,000 units of blood products each day and serves more than 75 million people nationally. NYBCe also provides a wide array of transfusion-related medical services, genomics testing, and lab services to hospitals nationally, and spearheads research and translational activities through its emerging business areas, Comprehensive Cell Solutions, and the Lindsley F. Kimball Research Institute. For more information, visit nybce.org.
About Functional Fluidics
Functional Fluidics is a biotechnology company that specializes in offering valuable insights into the health of red blood cells, addressing the growing demand for reliable biomarkers that objectively monitor the well-being of these cells. With an initial focus on sickle cell disease, the company strives to become the leading authority in red blood cell health. Functional Fluidics integrates clinical trial support, deep scientific knowledge, laboratory expertise, and data sciences with the goal of helping our pharmaceutical, biotech, and academic partners bring life-changing therapies to patients faster, and more cost-effectively.
Media Contact:
Jonathan Pappas
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