The companies have decided to increase their collaboration and, as part of this greater collaboration, Vitrolife has invested in Biolamina together with the company’s present owners.
Vitrolife has collaborated with the Stockholm-based Biolamina within the stem-cell field since 2012. During spring the collaboration resulted in the launch of a new freeze medium for stem cells, FREEZEstem, which has been developed and produced by Vitrolife and is now marketed globally by Biolamina.
The companies have now decided to increase their collaboration and as part of this increased collaboration Vitrolife has invested SEK 4 million in Biolamina in a directed new share issue, which gives Vitrolife a 4.6% participation in the company. Vitrolife takes possession of the shares in Biolamina as soon as the share issue has been registered at the Swedish Companies Registration Office. The investment is financed through Vitrolife’s cash reserves. Vitrolife will also be represented on the company’s Board in the future.
“It is primarily researchers that today buy products to cultivate stem cells and in a short period of time Biolamina has built up efficient marketing and distribution channels aimed at these customers,” says Vitrolife’s CEO, Thomas Axelsson. “The knowledge and infrastructure that underly Vitrolife’s success in the fertility area are highly applicable to the stem-cell field as well, at the same time as research into stem cells gives us knowledge to be able to improve future fertility treatments.”
“We are pleased to be able to increase the collaboration between Vitrolife and Biolamina and look forward to being able to access Vitrolife’s knowledge, resources and network,” says Kristian Tryggvason, Biolamina’s CEO.