Delaware, OH -- (ReleaseWire) -- 09/15/2016 --BioFab is currently seeking investments on the crowdfunding platform, Crowdfunder, for its 3D bioprinter, the BioFab 4500 V.1.X. This bioprinter will be capable of manufacturing human organs and tissues for those in need of transplants. Each year, thousands of people die while waiting for a suitable organ on transplant donor waiting lists. With this bioprinter, they will be able to have access to manufactured organs, thus giving them a significantly better chance of survival.
In order to create these organs, the bioprinter uses human stem cells taken from fat cells or third molars. Stem cells are capable of replicating into any type of tissue in the body, making them uniquely suited to accomplishing this purpose. Although some groups around the world may object to the use of stem cells in creating human tissues, BioFab hopes that its alliance with hospitals, research labs, and universities will help to mitigate ethical concerns.
Thus far, the Crowdfunder campaign for BioFab has generated over $350,000 in investments toward its $2.5 million funding goal. Investors can contribute to the project with funding amounts starting at $5,000. The company plans to use this funding to market their product to the top research labs, corporations, and universities in the country to aid in the development of this growing area of biotechnology. BioFab currently holds two U.S. patents on its technology, and the organization is currently cash flow positive.
The bioprinter will cost $400,000 for private organizations and $150,000 for universities. For patients, costs can range from $10,000 to $150,000 per organs, tissues or cartilage, depending on the size and intricacy of the tissue being produced. As biomedical engineering technology continues to advance, it can be expected that the price may be able to be lowered in the future to give more patients access to this lifesaving technology.
By investing in this campaign, contributors will receive the satisfaction of knowing that they are helping to advance medical science to potentially save millions of lives all over the world. In addition to that, investors can also expect to receive handsome returns on their investment. BioFab estimates that returns will average about 25 percent of the initial investment over the first five years. After that first five years, BioFab expects to be able to give investors a 10x return on their investment.