Cellartis AB Raises EUR 8 Million for the Development of Human Functional Cells.GOTHENBURG, Sweden -- BioFund New Shareholder in the Innovative Stem Cell Company Cellartis AB is pleased to announce the successful completion of a financing round led by a new investor, Bio Fund Management Ltd of Finland (BioFund). Existing shareholders, InnovationsKapital, Catella Healthcare Investments, T-bolaget, Texcel and Barnwik AB, also participated in the financing round. "The financing will allow Cellartis to accelerate the development of different human cell types for use in drug discovery, as well as toxicological testing, and generate GMP GMP (guanosine monophosphate): see guanine. grade cells in large quantities necessary for several applications, including, longer term, regenerative medicine. Moreover, the financing will provide the start of Cellartis international expansion", said Mats Lundwall, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cellartis. The company's aim is to offer its client companies the ability to more accurately predict human safety and efficacy profiles. This will lead to higher quality data generation, as well as a significantly reduced use of laboratory animals. Today, Cellartis has the largest number of blastocyst blastocyst /blas·to·cyst/ (-sist) the mammalian conceptus in the postmorula stage, consisting of an embryoblast (inner cell mass) and a thin trophoblast layer enclosing a blastocyst cavity. derived cell lines worldwide and more than 100 international academic collaborations. The company also collaborates with several multinational companies in commercialisation of cell technologies based on its cell lines. The commercialisation is yet in the early stages. Cellartis has received major grants from the European Union, the National Institutes of Health (USA), the Juvenile Diabetes Research Foundation The Juvenile Diabetes Research Foundation (JDRF) is the leading charitable funder and advocate of type 1 (juvenile) diabetes research worldwide. The mission of JDRF is to find a cure for diabetes and its complications through the support of research. (JDRF JDRF Juvenile Diabetes Research Foundation International ) and the Swedish Animal Welfare Agency. "We are excited to be a shareholder in Cellartis, which is one of the leading players in this new and rapidly expanding area of stem cell business", commented Keijo Vakiparta, Partner and Investment Director of BioFund. Notes to editors: Cellartis Cellartis is one of the few companies in the world that is engaged in the research, development and manufacture of human embryonic stem cell Embryonic stem cells (ES cells) are stem cells derived from the inner cell mass of an early stage embryo known as a blastocyst. Human embryos reach the blastocyst stage 4-5 days post fertilization, at which time they consist of 50-150 cells. ES cells are pluripotent. lines and specialised functional cells derived from these cell lines. Today the company has more than 30 stem cell lines available for research and has the capabilities, in line with appropriate legislative and ethical compliance requirements, to develop cells and applications for the discovery of new pharmaceuticals, regenerative medicines and toxicology. The number of employees is 23 and the company is based in Goteborg, Sweden. www.cellartis.com BioFund BioFund is one of the leading venture capitalists in the Nordic Countries, investing solely in the companies in Life Science area. It has about EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 200 million under its management and has invested in more than 40 companies, mainly in the Nordic Countries. For more information, please visit www.biofund.fi. InnovationsKapital InnovationsKapital was founded in 1994 and is one of the Nordic regions leading venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] for innovative early stage high growth companies. The business is focused on investments within ICT (1) (Information and Communications Technology) An umbrella term for the information technology field. See IT. (2) (International Computers and Tabulators) See ICL. 1. (testing) ICT - In Circuit Test. and HealthCare & Life Sciences, dynamic sectors that are rapidly expanding and where Nordic research plays a leading role. The capital is managed in three funds and is provided by highly reputable Swedish and international institutional investors. www.innkap.se This information was brought to you by Waymaker http://www.waymaker.net |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion