By Jennifer Chiou
New York, Dec. 13 - Cellartis AB announced it completed an €8 million round of financing.
Bio Fund Management Ltd led investors, which included InnovationsKapital, Catella Healthcare Investments, T-bolaget, Texcel and Barnwik AB.
"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-grade [clinical-grade] cells in large quantities necessary for several applications, including longer-term, regenerative medicine," chief executive officer Mats Lundwall said in a news release.
"Moreover, the financing will provide the start of Cellartis international expansion."
According to the release, the company's aim is to offer its clients the ability to more accurately predict human safety and efficacy profiles, leading to higher quality data generation and reduced use of laboratory animals.
Based in Gothenburg, Sweden, Cellartis researches, develops and manufactures human embryonic stem cell lines.
| Issuer: | Cellartis AB
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| Issue: | Stock
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| Amount: | €8 million
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| Investors: | Bio Fund Management Ltd (lead), InnovationsKapital, Catella Healthcare Investments, T-bolaget, Texcel, Barnwik AB
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| Announcement date: | Dec. 12
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