San Diego-based Novocell said Monday that it has closed on $25M in Series C financing. The round came from Sanderling Ventures, Asset Management Company, Pacific Horizon Ventures, and Johnson & Johnson Development Corporation. Johnson & Johnson led the round. Novocell is developing stem cell engineering technology, and is focusing on treatments for diabetes and cancer. Novocell's technology involves human embryonic stem cell engineering, cell encapsulation, and drug discovery. The firm was started in 1999, and merged with CyThera and BresaGen in 2004. More information »