Clinical-stage biotech company Cellcolabs today announced that it has raised $8.7 million, bringing its funding to $21.5 million.
Cellcolabs is a Swedish biotech company that aims to prevent and cure diseases by making high-quality stem cells available and affordable through industrial-scale production and collaborations.
Founded in 2021, the company’s technology is based on Professor Katarina Le Blanc's pioneering stem cell research at the world-renowned Karolinska Institute in Stockholm.
It focuses on mesenchymal stem cells (MSCs), a type of stem cell with anti-inflammatory, regenerative, and immunomodulatory properties that has been widely researched globally for decades.
However, currently, high-quality MSCs are scarce and prohibitively expensive. Cellcolabs seeks to change this by slashing prices by up to 90 per cent within the next decade through large-scale production.
MSCs used in Cellcolabs’ product development and clinical research activities are produced at its laboratory in Stockholm from the bone marrow of healthy volunteer donors.
The company has been conducting trials in the Bahamas through its subsidiary, Cellcolabs Clinicals to assess the use of MSCs in cardiovascular disease prevention and in individuals experiencing musculoskeletal injuries. The treatment is carried out either through a local injection or systemic infusion.
Cellcolabs also supplies stem cells to external research projects and initiatives. This includes collaborations with world-renowned university hospitals and biotechnology companies.
Cellcolabs new founders include Fredrik Österberg and Jens von Bahr.
The funding will be used to scale up R&D, operations and business development.
Mattias Bernow, CEO of Cellcolabs, comments:
“We are really pleased with the overwhelming response from investors as part of this round. Our mission is to produce high-quality stem cells on an industrial scale and for a fraction of the current cost, and it is encouraging to see such fantastic support for our work.
MSCs have in multiple studies shown great potential for alleviating symptoms and even potentially curing and preventing disease. Making stem cells available and affordable for more people could be a game-changer for healthcare.”
Fredrik Österberg comments:
“When it comes to investments, our focus is on companies that boast a strong business case and contribute positively to society.
With the 25 years of research of Professor Le Blanc, the promising potential of MSCs for healthcare, and an exceptional team at the helm, Cellcolabs is well-positioned to revolutionise the field of stem cells and healthcare.”
Lead image: Mattias Bernow, CEO of Cellcolabs. Photo: uncredited.
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