BioGenCell, a Netanya, Israel-based biotechnology company, raised $16M in Seed funding.
The round was led by Marius Nacht.
The company intends to use the funds to accelerate its development efforts.
Founded by Dr. Yael Porat and Prof. Michael Belkin, BioGenCell is a biotechnology company that develops technology for using stem cells from the patient’s own blood to treat microvascular diseases.
BioGenCell’s medical platform focuses on the needs of patients and physicians. The current product treats severe limb-threatening ischemia (CLI) typically found in patients with diabetes and heavy smokers. As part of the treatment, stem and other cells taken from the patient in a standard blood draw are manipulated under the patented process and then reinjected into the leg muscle. The injected cell mixture promotes the production of new blood vessels that bypass the damaged ones and thus renew blood flow to the leg; reduces the local inflammatory process; and cleans the damage caused by the inflammation. Cell reinjection is performed once and can occur in any standard treatment room.
In its Phase I clinical trials, BioGenCell treated five patients who had previously tried all the other available treatments and were about to undergo leg amputation. The company later successfully treated another four, more-serious compassion cases. The treatment was found safe and, although every patient starts with different conditions, all the patients improved in at least three objective parameters, including prevention of amputation, improved blood flow, healing of chronic sores, and ability to walk, as well as subjective parameters, such as reduced pain (enabling weaning off narcotics) and improved quality of patient lives. Based on these patients, the treatment appears to have a long-lasting therapeutic effect.
The company recently received FDA permission to continue to Phase II controlled, double-blind trials. If successful, Its future product line, based on its technology, includes those to restore blood vessels related to kidney failure, pulmonary hypertension, heart failure, stroke, blindness, and more.
BioGenCell is located at and has a strategic partnership with Laniado Hospital in Netanya, Israel.