Videregen, a Liverpool, UK-based a developer of stem cell organ regenerative medicine, secured £3.1m in funding.
The financing included:
– £900K in equity funding from The North West Fund for Biomedical managed by SPARK Impact,
– £1.9m grant from Innovate UK (formerly the Technology Strategy Board) and
– £300K from London Business Angels and other private investors.
The company intends to use the funds for manufacture development and clinical research.
Led by Dr Steve Bloor, chief executive officer, Videregen has developed organ replacement products to address the chronic shortage of organs for transplantation. Formed in 2011 as a spin-out from Northwick Park Institute of Medical Research in London, it uses its proprietary technology to produce biological scaffolds to which a patient’s own stem cells are added, creating a bespoke organ replacement.
The company, which initially focuses on diseases of the trachea and bowel, works with the NHS Blood and Transplant centre in Speke and in collaboration with teams at the University College London, the Cell Therapy Catapult and the Royal Free London.