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Safi BiotherapeuticsCNBC
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83% Informative
Safi Biotherapeutics is working to manufacture inexpensive red blood cells at scale.
The company has received more than $16 million from the U.S. Department of Defense and on Wednesday announced a $5 million seed round led by J2 Ventures .
Safi has not received FDA approval yet, and it has a long road of testing ahead.
Safi is targeting production of around 100,000 units of blood during its initial launch year.
McConnell said he doesn't want doctors or patients to worry about access to blood, and he believes Safi can help fill those gaps.
Safi plans to continue to scale until it's manufacturing more than 1 million units annually .
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