While electronic hearts are slow to take hold, a startup proposes a new way to replace the deficient hearts of patients. They believe that it is possible to print a functional heart with a bioprinter. The Chicago-based startup has just approached the SEC to raise $50 million to carry out its project.
Can crowdfunding fund a long-term medical research project?
Producing a transplantable heart on demand thanks to 3D printing, the idea is appealing. Made from the patient’s stem cells to avoid any risk of rejection and perfectly adapted to the morphology of the future transplanted patient, the idea seems brilliant. Achieving such a goal today seems like a real feat, because if you can print living cells with a bio-printer, producing a functional heart seems like a challenge. BioLife4D researchers will need to implement a complex methodology to print various types of cells, with muscle fibers, heart vessels, heart valves and nerves, all in a precise geometry.
It will undoubtedly take several years of research for the startup to reach its objective and to finance this adventure, the leaders have opted for an IPO as defined by the SEC’s “JOBS Act Regulation A+”, a new form of startup financing set up in 2012. The operation is more like a crowdfunding operation than an IPO. Rather than raising the necessary funds in several rounds of financing and then going public at a time when the technology is close to commercialization, this new type of IPO allows for a financing operation open to all under the aegis of the SEC. An operation that is capped at $50 million.
BioLife4D which so far has not shown anything, nothing demonstrated its capabilities in 3D cell printing will it be able to raise enough funds to carry out its crazy project? The pre-registration list is open.
Translated from french by : Deepl
“Biotech Pioneer BIOLIFE4D Submits Regulation A+ Filing with SEC for up to $50 Million Initial Public Offering”, BioLife4D Press release, September 6, 2017
“New JOBS Act Regulation A+ Will Be A Game Changer”, Forbes, May 22, 2015