Stem cell therapy company Amniotics raises SEK 60 million before deduction of transaction costs, in First North IPO to advance lead candidate PulmoStem™ into clinic
Novel source of stem cells in full-term amniotic fluid provides basis for broad pipeline
LUND, Sweden, July 12, 2021 /PRNewswire/ -- Amniotics AB (publ) ("Amniotics" or the "Company"), a stem cell therapy company has raised SEK60 million through its recent listing on Nasdaq First North Growth Market. The offering was fully subscribed and attracted widespread interest from Swedish investment companies and family offices as well as the general public in Sweden, Norway and Finland. The funds will now be deployed to advance the company's preclinical portfolio of cell therapy candidates based on mesenchymal stem cells (MSC) from amniotic fluid. Lead candidate PulmoStem™, a first-in-class treatment for pulmonary disease is scheduled to enter the clinic in Q2, 2022. In addition, Amniotics will expand its stem cell GMP manufacturing services to research and industry.
Comment from Amniotics' CEO, Kåre Engkilde:
"Cell therapy is attracting record funding worldwide and is a particular strength in the Nordics. We are extremely happy and satisfied with the strong support from both existing and new shareholders for this offering. With the proceeds from the IPO, Amniotics has the financial resources required to move our lead candidate PulmoStem™ into clinical development. It has the potential to make a real difference to patient's lives. We also have an exciting number of other maturing candidates across a range of indications in our preclinical portfolio."
Amniotics is a biopharma company focusing on mesenchymal stem cells (MSC) from amniotic fluid. The company was born out of discovery of a novel source of stem cells in full-term amniotic fluid. Based on a decade of research at the internationally recognized Lund University Stem Cell Centre and the University Hospital of Lund, the company is pioneering the harvesting and propagation of tissue specific neonatal quality mesenchymal stem cells (MSC) with unique properties for applications in regenerative medicine. Amniotics has also an approved GMP (Good Manufacturing Practice) manufacturing facility to produce Advanced Therapy Medicinal Products. The GMP facility is operational since 2020 and Amniotics is now moving into clinical trials with the leading drug candidate, PulmoStem™ and is looking to establish strategic partnerships with researchers and companies interested in developing cell-based therapies targeting diseases with high unmet needs. Amniotics is listed at Nasdaq First North Growth Market in Stockholm.
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SOURCE Amniotics AB
Company Codes: Bloomberg:AMNI@SS, Frankfurt:66J, ISIN:SE0015961016, Stockholm:AMNI, Munich:66J