SmartCella Holding AB raises SEK 328 million to advance and accelerate development of the company's technologies
Sep 27, 2021, 07:51 ET
STOCKHOLM, Sept. 27, 2021 /PRNewswire/ -- SmartCella Holding AB, an innovative biotechnology and medtech company, today announces the raising of SEK 328 million to further advance and accelerate the development of core technologies in the company's three business units, Procella Therapeutics, Smartwise and SvedMed Solutions.
The financing, led by advisor SEB, brings together a renowned group of investors with AMF, SEB Pension, Alto Cumulus and Celox joining existing investors including AP4 and the founders Prof. Kenneth Chien, Thomas von Koch and Christian Kinch.
For patients who have suffered a heart attack, a large number of heart cells die, which causes heart failure and significant morbidity and mortality. With cardiac progenitor cells, Procella Therapeutics, together with AstraZeneca, is developing a new way to regenerate those parts of the heart that have been damaged by a heart attack.
To deliver cell therapy in a safe and effective manner, Smartwise is developing a novel infusion micro-catheter, the Extroducer, for precise and localized administration of cells, drugs, RNA and other therapies. The Extroducer catheter was developed at the Karolinska Institutet for potential uses in cancer treatment and tissue regeneration in various organs.
The third business unit, SvedMed Solutions, works with developing novel methods for RNA-based therapies and methods for administration and delivery of such therapies.
"We are very pleased to have such a well renowned group of institutional and private investors join us as we now accelerate the development of Procella, Smartwise and SvedMed Solutions towards first-in-human studies, as well as to establish GMP manufacturing capabilities," says Staffan Holmin, Prof, CEO of SmartCella. "The financing will enable the company to move to the next phase and will take us to an IPO in 2-3 years," says Christian Kinch, Chairman and co-founder of SmartCella.
"I am very happy and proud that AMF is a shareholder in this exiting venture. I am especially happy that it is a very Swedish venture, based on research from Sweden, driven by Swedish entrepreneurs and funded by Swedish capital," says Anders Oscarsson, Head of Equities, AMF. "The Stockholm region has all necessary components, including a strong IT-sector, to become a world leading biotech cluster," says Kenneth Chien, co-founder and the main shareholder of SmartCella and also a Co-Founder of Moderna.
For further information, please contact:
Staffan Holmin, CEO, +46 (0) 73 966 18 23
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