Key Highlights
- $255 million series C fundraise by Cellares for launching a 118,000-sq. ft. manufacturing site in Bridgewater, New Jersey.
- The new facility expected to create up to 350 local jobs, enhancing the local economy and supporting cell therapy patients.
- Cellares to become a part of the life sciences hub of New Jersey, offering significant advancements in cell therapy manufacturing capabilities.
Source: Business Wire
Notable Quotes
- “We’re excited to welcome Cellares to the life sciences hub of New Jersey,” – Shanel Y. Robinson, Commissioner Director at Somerset County
- “The opening of this facility marks a tremendous milestone towards Cellares’ mission of accelerating access to life-saving cell therapies to meet total global patient demand,” – John Tomtishen, Sr. Vice President and General Manager at Bridgewater IDMO Smart Factory
- “Not only does Cellares join a thriving Life Sciences industry here, but they reinforce the fact that many of the cures needed by the world come from Somerset County,” – Jessica Paolini, Manager of Economic Development at Somerset County
SoH's Take
The recent announcement by Cellares regarding its $255 million series C fundraise and the establishment of a new Smart Factory in Somerset County signifies a monumental stride in the cell therapy manufacturing industry. This initiative not only bolsters the local economy through job creation but also places Somerset County on the map as a pivotal hub in the life sciences sector. The advanced technology and scale of production promised by this facility underscore a significant leap in meeting the global demand for cell therapies, a critical area in modern medicine. The integration of industry 4.0 technologies in this venture reflects a forward-thinking approach, setting a new benchmark in the field of cell therapy manufacturing. This development represents a promising outlook for patients globally, potentially transforming the landscape of treatment accessibility and efficiency.
