Celularity Secures $12M Lifeline for Placenta-Based Longevity Quest

FLORHAM PARK, NJ – December 18, 2025 – Regenerative medicine company Celularity Inc. (Nasdaq: CELU) today announced it has secured binding term sheets for up to $12 million in new financing from Philip A. Barach, the co-founder and former president of investment giant DoubleLine Capital LP. The capital infusion arrives at a critical juncture for the company, providing a much-needed runway to advance its strategic focus on longevity and human performance through its novel placenta-derived therapies.

Celularity, which specializes in developing treatments for age-related and degenerative diseases, will receive an initial $10 million, with a potential for an additional $2 million. The deal is being framed by the company as a pivotal partnership that validates its scientific platform and long-term vision.

“This financing, when completed, is expected to provide flexibility to further evolve our mission, sharpening our focus on advancing our core placental-derived technologies,” said Robert J. Hariri, M.D., Ph.D., Chairman and CEO of Celularity. The investment, he added, reflects a “deep appreciation for the scientific foundation of our platform and the long-term vision we are pursuing.”

A Financial Lifeline Amidst Headwinds

The financing comes not a moment too soon. A review of Celularity's recent financial filings paints a picture of a company facing significant fiscal pressure. For the third quarter ending September 30, 2025, the company reported a net loss of $23.08 million on revenues of just $5.28 million. This represents a widening loss from the $16.1 million reported in the same period a year prior and a steep decline from 2024’s full-year revenue of $54.2 million.

More alarmingly, the company’s cash position had dwindled to approximately $120,000 in cash and cash equivalents by the end of the third quarter, alongside an accumulated deficit nearing $1 billion. This precarious financial state led the company’s own management to express “substantial doubt about its ability to continue as a going concern” without raising additional capital. With an operating cash outflow of over $8 million in the first nine months of 2025 and a stock price down nearly 42% over the past year, this new funding acts as an essential lifeline.

The Barach Factor and Deal Specifics

The commitment from a seasoned investor like Philip Barach is a significant vote of confidence. Barach’s involvement suggests more than a simple capital injection; it signals a strategic partnership aimed at recalibrating the company’s trajectory. In a statement, Barach emphasized his intent to provide “constructive perspective as Celularity works through necessary changes and positions itself for a more disciplined and focused future.”

The structure of the deal reflects a carefully balanced arrangement. The financing is composed of a $7.0 million senior secured term loan and up to $5.0 million in secured convertible notes. The term loan is secured by a first-priority lien on nearly all of Celularity’s assets, giving the investor significant protection for their capital.

The convertible notes come with terms that could impact the company’s future equity structure. The notes can be converted into Celularity’s Class A common stock at a price of $1.66 per share. This introduces the potential for significant shareholder dilution if and when the debt is converted into equity. Furthermore, the deal includes warrants to purchase additional stock, representing 33% of the as-converted principal amount, with an exercise price of $2.00 per share. While common in such financing arrangements, these warrants create an overhang of potential future dilution that existing investors must consider.

The Scientific Quest for Longevity

With fresh capital, Celularity can refocus on its core scientific mission: harnessing the unique biological properties of the postpartum placenta to combat aging. The company operates on two main fronts: commercial-stage biomaterials and clinical-stage cell therapies.

Its commercial arm already generates revenue from products like Biovance® and Interfyl®, which are advanced biomaterials used in wound care and soft tissue repair. These products provide a steady, albeit modest, revenue stream. However, the company’s long-term ambitions lie in its groundbreaking and capital-intensive cell therapy pipeline.

This pipeline includes several promising candidates:

• CYNK-001: An allogeneic, off-the-shelf Natural Killer (NK) cell therapy being investigated for aggressive cancers like glioblastoma multiforme (GBM) and acute myeloid leukemia (AML). It has received Fast Track and Orphan Drug Designations from the U.S. Food and Drug Administration (FDA) for malignant gliomas.

• CYNK-101: A next-generation, gene-modified NK cell therapy currently in a Phase 1/2a trial for advanced HER2 positive gastric cancers.

• PDA-002: A placental-derived cell therapy that has shown promise in a Phase 2 trial for promoting the healing of diabetic foot ulcers, a debilitating complication of diabetes.

These programs represent the cutting edge of regenerative medicine, aiming to provide “off-the-shelf” solutions that do not require patient-donor matching, potentially making them more accessible and affordable than other forms of cell therapy.

Navigating a Competitive and Complex Landscape

Celularity is not alone in its quest to unlock the secrets of aging. The longevity industry is booming, projected to be worth over $64 billion by 2026, and is populated by well-funded and scientifically ambitious competitors. Giants like Altos Labs and Google’s Calico Life Sciences are pouring billions into cellular reprogramming and understanding the fundamental biology of aging. Other players, such as Juvenescence and BioAge Labs, are also developing novel therapies targeting age-related decline.

Beyond competitive pressures, the regulatory path for regenerative medicine is both complex and evolving. While the FDA has created expedited pathways like the Regenerative Medicine Advanced Therapy (RMAT) designation to foster innovation, bringing a cell therapy from the lab to the market remains a long, expensive, and uncertain journey. Each of Celularity’s clinical-stage assets must successfully navigate multiple phases of rigorous clinical trials and regulatory scrutiny before they can be commercialized.

This new financing provides Celularity with the critical resources to continue that journey. The investment from a discerning financial mind like Barach offers not just capital, but a mandate for focus and discipline. With this backing, Celularity has a renewed opportunity to prove that the placenta holds a key to extending human healthspan, but it must now execute its ambitious scientific vision while navigating a highly competitive and financially demanding reality.