The Social Flow
About us

Stem Sel business is based on the prototype development, engineering, production, and commercialization of an instrumentation (and related consumables) to select and sort human stem cells from adult, "discarded" tissues (from cord blood or placental sources to lipoaspirate or milkteeth) for applications in regenerative medicine.

Stem Sel has recently won the 2012 edition of StartCup 2013, the Emilia-Romagna business plan competition involving the Spinner Program and all the Universities of the Region. Stem Sel finally resulted to be winner among 52 projects selected and advised by a board of business experts and investors.

Our product... still a prototype, in-code named "Celector". The "celected" stem cells can be cultured and directly used or committed to differentiated cells for applications in cell therapy. The competitive advantage of "Celector" lies in its ability to sort and select stem cells without any cell manipulation. This is key factor to (1) pass regulatory restrictions, and (2) select/sort stem cells for which there are not, as yet, efficient technologies on the market. Indeed, the main competitor technologies such as the flow-assisted cell sorting (FACS) and the magnetic-assisted cell sorting (MACS®, Miltenyi Corp.) manipulate stem cell using immunomarkers. Immunomarkers moreover are often not available to efficiently select/sort multipotent stem cells such as MSCs. Compared to the competitor technologies on the market, "Celector" also presents the following key advantages: lower instrumental investment, lower operation and maintenance costs, disposable cell fractionation device, total preservation of cell viability, reduced operation times.

Target market and customers

The market for technology and tools for stem cell therapies can be estimated to be in 2 years (2013-2014) as high as 400 M$ for US and 1000 M$ in the world, and in 4 years (2016) as high as 800 M$ for US and 2500 M$ in the world. Target clients of the "Celector" are stem cell factories producing stem cell products for cell therapy, (cord blood) stem cell banks for autologous transplantation applications, and laboratories of stem cell manipulation for clinical applications. The potential clients who might have the best goodwill to purchase the "Celector" should be private cell factories developing cell therapies based particularly on mesenchymal stem cells (MSCs), which are most promising stem cells for tissue engineering. About 400 cell factories in the world are currently sponsoring MSC-based clinical trials.


Pierluigi Reschiglian (President/CEO), full professor in Analytical Chemistry
Andrea Zattoni (CFO), researcher in Analytical Chemistry 
Barbara Roda (CTO and Project Manager of “Celector”), researcher in Analytical Chemistry

Martina Di Venere (Product Manager of “Celector”), Biomedical Engineer
Kristel Martinelli (Quality Engineer di “Celector”), PhD student in Bioanalytical Chemistry
Martina Rossi (Solution Engineer di “Celector”), PhD student in Biotechnology
Pietro Matiazzi, Electronic Engineer of “Celector”
Niccolò Dionisi, Programmer of “Celector"
Peanuts on business planning

The business plan involves the following phases, and it aims the following goals:

  • R&D and technology-transfer development of the prototype technology;
  • Engineering of the relevant instrumentation at a precompetitive level;
  • Ready-to-market development;
  • Small-scale commercialization (start-up production phase).

The proprietary technology is currently implemented in a "Celector" lab-prototype. Activities for phase (1) include development of the prototype, development of the stem cell sorting protocols, and new applications of the implemented technology. Phase (2) and (3) will be reached by a mix of make-or-buy actions. Phase (4) will target clients among companies, hospitals and research institutions running trials and applications on MSCs. The "Celector" will be promoted by contacting the potential clients through publications, expositions, symposia, and mainly by "hands-on" demonstrations. With its own human resources Stem Sel will be able to manage distribution and installation of "Celector" in Italy. To cover the European market Stem Sel will reach an agreement with a distributor with which byFlow is currently cooperating. To approach the North American market, Stem Sel is currently working with two North American consultants who will analyze the regional market and find out technological partners, pilot clients, and possible distributors in that area.
Stem Sel seeks investments for (1) a 400.000€ "seed" round to cover the development and engineering of the prototype to the ready-to-market phase, and for (2) an additional venture capital round of ca. 1.0 million € to make Stem Sel reach the start-up commercialization step. The Stem Sel start-up phase will reach manufacturing of a limited number of "Celector" package units. Stem Sel may prudentially estimate that during such a start-up phase it will be able to reach a sale volume of at least 20 units the first year, and of at least 30 units the second year.


Dr.ssa Barbara Roda
Prof. Pierluigi Reschiglian

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byFlow s.r.l. – solutions in analytics for nano/biotechnology • Via Caduti della Via Fani, 11/B - 40127 Bologna, Italy
P.IVA (VAT code) 03032331203 • Capitale sociale i.v. (paid-up capital stock) 10.000€
Iscritta al Registro Imprese di Bologna (registered with the registrar of companies, Bologna): n. 03032331203