GC Cell said that BioCentriq, its U.S. affiliate focused on cell and gene therapy (CGT) contract development and manufacturing organization (CDMO), successfully raised a total of $29.2 million in a Series A funding.

BioCentriq was acquired by GC Cell and Green Cross Holdings in 2022. The company, based in New Jersey, specializes in the contract manufacturing of autologous and allogeneic cell therapies, gene therapies, and viral vectors.

GC Cell stressed that the funds raised will be used for the development of cell therapies, enhancement of production facilities, investment in advanced technologies, and acquisition of global talent.

However, the company did not disclose who participated in the Series A funding, citing contractual reasons.

"It seems that the global investors' confidence in BioCentriq's vision and capabilities is reflected in the successful funding of this Series A round," said GC Cell CEO and Biocentriq interim CEO James Park.