Date: 2014-09-25
Type of information: Fundraising
Company: Videregen (UK)
Investors: SPARK Impact (UK) London Business Angels (UK) and other investors
Amount: £1.2 million (€1.53 million)
Funding type: fundraising
Planned used: The proceeds will be used for the further development of Videregen’s lead product for trachea replacement, which is expected to enter clinical trials next year with the aim of being the world’s first commercially available tissue engineered stem cell organ replacement product. In addition to the clinical trial, the funds raised will be used for manufacturing scale-up and corporate development. Following the investment, Videregen has relocated to Liverpool Science Park, where it has recruited new staff to drive the development of its projects. Formed in 2011 as a spin-out from Northwick Park Institute of Medical Research, Videregen is focused on generating new products to address the chronic shortage of organs for transplantation. The company uses its proprietary technology to produce biological scaffolds to which the patient’s own stem cells are added, creating a bespoke organ replacement. This potentially avoids the problems associated with traditional transplantation methods such as availability of donor organs, compatibility and rejection. The company’s research is initially focused on trachea and bowel disease.
Others: * On September 25 2014, Videregen, an expert in organ regeneration and replacement, has raised significant investment funding of £1.2 million (€1.53 million) from a consortium led by SPARK Impact, supported by London Business Angels and other investors. Following its £900,000 investment, Dr Marc d’Abbadie of SPARK Impact, which manages the North West Fund for Biomedical, joins the Board, as does lead angel Dr Robert Hollamby of London Business Angels.
Therapeutic area: Transplantation
