BioLamina, a Stockholm-based biotech company, has received €20 million in funding from the European Investment Bank to help develop cell therapies for serious chronic diseases.
The funding is venture debt, which is a long term loan solution specifically aimed at fast growing and disruptive companies. It provides capital and enables de-leveraging, which allows businesses to grow without having to dilute existing investors. It uses this model to help the companies grow at a faster pace and get more time from vast financial fields.
Dr Karl Tryggvason & Kristian Tryggvason founded the company in 2009. This is focused on growing hard to grow cells (like pluripotent stem cells) in a lab.
BioLamina develops bioengineered, matrix-based materials for cell culture, based on defined laminin proteins (www.biolamin.com). These materials are important as they allow cells to properly grow, differentiate and function in a controlled environment. Laminins are proteins that occur around cells, the main part of tissues and are important for maintaining the normal functioning of tissues.
The company’s products aim to provide stable &High Quality cell growth. It is critical to the development of new therapies and developing better drug testing methods. And scaling up these treatments, which are now closer to clinical reality, also requires reliable cell production.
The latest raise will be utilized to scale up the manufacturing, develop its supply chain and broaden its product portfolio. It will also help to further develop its technology and firm up operations.
BioLamina’s CEO Klaus Langhoff-Roos explained that, cell therapies are getting more practical but scaling is still a big issue. He also remarked that the finance shall assist the company to speed up its technology and production functions at a critical growth phase.
The Biolaminin® products of the company are animal-free and completely defined, and they are already used for clinical trials in various areas. These products mimic a system where controlled cell growth takes place to develop therapies.
Your investment also meets broader European objectives to advance research and innovation in the field of biotechnology. This is in line with wider measures to strengthen Europe’s role in life sciences and to bring novel medicines closer to patients.
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