Founded in 2007, Fate Therapeutics focuses on modulating adult, rather than embryonic, stem cells and on induced pluripotent stem cells (iPSC). The company derives its name from the fact that it essentially modulates the stem cell's fate.
In November it closed a $30 million Series B round of financing, bringing the total funding to $50 million. Seattle-based OVP Venture Partners led this round; and the trio that led Fate's Series A -- Arch Venture Partners, Venrock and Polaris Venture Partners also participated.
Fate's principal stem cell modulator is now in clinical trials.
CEO Paul Grayson ensured that the company would be based in San Diego when he joined Fate three years ago. At that time, the three venture groups had already committed to investing in Series A, and the six founding scientists from Boston, San Francisco, Seattle and San Diego had been assembled.
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