The capital investment from Omnio’s shareholders will be used for ongoing development work and to begin creating a blueprint for manufacturing.
The company has already made a number of physician-led studies and successful trials involving patients with clinical wounds, they state in their press release.
“It is unbelievable what some people have to go through and how restricted they are by their wounds. One of our patients suffered with an ulcer for nine years, but got better after plasminogen treatment,” says Ulrika Norin, CEO of Omnio in the press release.
Aims for its first clinical trials in 2024
The financing is an addition to the approximately SEK 26 million the company has received from investors and shareholders over the past year, as well as getting financial support from Sweden’s innovation agency Vinnova.
Thanks to a new share issue of SEK 5.5 million in December last year, Omnio has been able to start working with a contract manufacturer. Now the company can go even further and develop a manufacturing process at the beginning of next year – a prerequisite for starting the preclinical program required to initiate a clinical trial, they state. Omnio aims for its first clinical trials in 2024.
“We expect our treatment to be able to both speed up the wound healing process and prevent patients from having to face amputations. We have a long way to go and need to conduct a controlled clinical trial to show that it really works, but the mechanism for how plasminogen works in the wound healing process is proven and very well documented,” says Ulrika Norin in the press release.
Photo of Ulrika Norin: Omnio