£400,000 Follow on Investment for Stem Cell Innovator
July 2, 2015
Spin-out regenerative medicine company, Videregen, has received £400,000 in follow on funding from The North West Fund for Biomedical, managed by SPARK Impact.
Based at Liverpool Science Park, the company’s core technology uses decellularised organ scaffolds seeded with patients’ own stem cells to create non-immunogenic, regenerative bespoke organ replacements.
This new round of funding follows on from an original £900,000 investment from The North West Fund for Biomedical in 2014. The business leveraged this investment to further develop its lead product for trachea replacement, which aims to become the world’s first commercially available tissue engineered stem cell organ replacement product. Based on the same core platform technology, the follow on funding enables the Company to progress work on its bowel replacement programme.
Dr Marc d’Abbadie of SPARK Impact, said: “The developments Videregen is making into improving regenerative medicine are potentially groundbreaking. SPARK Impact is very proud to continune to suport the company as it continues to develop and thrive.”
The North West Fund for Biomedical is a sub-fund of The North West Fund, a JEREMIE programme jointly financed by the European Regional Development Fund (ERDF) and the European Investment Bank (EIB) and available to invest in small and medium sized businesses in the North West of England to support their start-up, development and growth.