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Batu Biologics Completes $100,000 Crowdfunding

A San Diego-based immunotherapy company has successfully completed $100,000 of financing by utilizing an unusual fundraising approach — crowdfunding.

Batu Biologics Inc. launched the crowd funding on Indiegogo in June 2014 to fund the completion of preclinical studies to support the submission of its lung cancer vaccine to the Food and Drug Administration.

“Batu Biologics would like to thank the generous donors to the campaign,” said Samuel Wagner, president and chief executive officer of Batu Biologics. “As a life science company, attempting a donation-based crowd funding effort was a risky proposition. However, the success of this campaign is testament to the public enthusiasm for the significant steps in this company’s development of our non-toxic biological therapeutics. We are committed to maximizing progress with the funds that have been donated by our loyal supporters.”

Wagner, 22, reports a positive experience with the crowd funding approach and said others will follow.

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“A new generation of entrepreneurs are taking ownership and looking for alternative strategies to successfully grow their companies without losing ownership share,” Wagner said. “We are trying to build this business, hold onto our intellectual property and counter the traditional way things are done in the biotech sector.”

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