Videregen secures £1.3m to advance its stem cell organ regeneration platform
The Liverpool-based stem cell specialist raised the funds from founders, angels, and Spark Impact to scale manufacturing and run clinical trials.
Share allotment filed at Companies House
Videregen is a Liverpool-based developer of regenerative medicine that creates bespoke organ replacements using biological scaffolds and patient stem cells.
Videregen has secured £1.3m in early-stage funding as part of a wider £2m round to advance its stem cell organ regeneration platform. The initial investment came from the company founders, a syndicate of London Business Angel investors including the LBA SEIS Roundtable Syndicate Fund 2012, and the Northwest Fund for Biomedical managed by Spark Impact.
The fresh capital will enable the Liverpool-based firm to scale up GMP manufacturing and conduct clinical trials for its lead product, which targets life-threatening airway disorders. The equity raise is bolstered by a £1.9m grant from the Technology Strategy Board.
From the founder
"I am delighted to have secured our initial investment which will leverage our TSB grant. The investment will allow us to formally demonstrate our world-leading technology platform in a scientifically and clinically rigorous way, moving it further towards commercial reality. Sincere thanks to all of our investors for their support."
Steve Bloor
Chief Executive Officer at Videregen
Investor perspective
"I am delighted that LBA investors including an value add industry specialist lead angel have participated in this funding round, which remains open for a further circa £600k of EIS funding to allow Vidergen to undertake the clinical trials of its potentially ground breaking technology which could one day save many lives. My congratulations to Steve and his expert team."
Anthony Clarke
CEO, London Business Angels
Use of funds
- 01Build out infrastructure
- 02Fund research and development
