Amniotics, a stem cell therapy company, has raised SEK 60 million through its recent listing on Nasdaq First North Growth Market.
The offering was fully subscribed and attracted widespread interest from Swedish investment companies and family offices as well as the general public in Sweden, Norway and Finland, states the company in a press release.
PulmoStem is scheduled to enter the clinic in Q2, 2022
The funds will now be deployed to advance the company’s preclinical portfolio of cell therapy candidates based on mesenchymal stem cells (MSC) from amniotic fluid. Lead candidate PulmoStem, a treatment for pulmonary disease is scheduled to enter the clinic in Q2, 2022. In addition, Amniotics will expand its stem cell GMP manufacturing services to research and industry.
“Cell therapy is attracting record funding worldwide and is a particular strength in the Nordics.”
“Cell therapy is attracting record funding worldwide and is a particular strength in the Nordics. We are extremely happy and satisfied with the strong support from both existing and new shareholders for this offering. With the proceeds from the IPO, Amniotics has the financial resources required to move our lead candidate PulmoStem into clinical development. It has the potential to make a real difference to patient’s lives. We also have an exciting number of other maturing candidates across a range of indications in our preclinical portfolio,” says Amniotics’ CEO, Kåre Engkilde.
Photo of Kåre Engkilde: Amniotics