1. Safi Biotherapeutics aims to manufacture inexpensive red blood cells to address blood shortages. 2. The startup has secured over $16 million from the U.S. Department of Defense and recently announced a $5 million seed funding round. 3. The company has not yet received FDA approval and faces extensive testing to ensure safety and effectiveness. 4. The American Red Cross reported a significant blood shortage, highlighting the urgent need for alternative solutions like lab-grown blood. 5. Safi's production begins with progenitor cells from stem cells, which are converted into red blood cells through a complex bioreactor process. 6. The goal is to reduce production costs from under $2,000 to below $500 per unit, comparable to donated blood prices. 7. Safi plans to scale its production significantly, aiming to manufacture over 1 million units annually within several years. 8. The company's CEO emphasizes the need to build a sustainable supply chain to alleviate blood access concerns for patients and doctors.
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