Celltran Successfully Completes £1m Fund Raising Round
Published: 24th August 2007
Sheffield (United Kingdom), 20 August 2007 Celltran Limited, the biotechnology company focused on developing cell therapy products for wound healing, is pleased to announce today the successful completion of a £1 million funding round. Celltran’s strategy is to provide globally accessible, highly effective and economically viable cell therapy products that heal a wide variety of wounds.
This investment round, which was led by Yorkshire Fund Managers, was supported by all existing shareholders and included investments from South Yorkshire Investment Fund, Innogenetics NV, Biofusion plc, White Rose Technology Seedcorn Fund and PUK Ventures.
Celltran’s portfolio of products includes the lead product, Myskin™, which is currently generating revenues and is marketed in the UK. Lyphoderm™, which will shortly enter Phase 3 clinical trials, consists of freeze-dried skin cells of allogeneic (donor-derived) origin which has enhanced storage, shelf-life, and easy application properties. In addition, Celltran has two further therapies, Ulcodress plus™ and Cryoskin™, that are close to obtaining marketing approval.
Commenting on the fund raising, Mal Jarmolowicz, Chief Executive Officer of Celltran, said: "We were delighted by the support from our existing shareholders in this funding round. The investment round enables CellTran to advance the commercialisation of its core products including Ulcodress plus™ for the treatment of static chronic wounds and Cryoskin™, indicated as a first-line treatment for burns patients where there is a clear unmet medical need. The market entry of these products, alongside the revenues generated by Myskin™ and the imminent entry of Lyphoderm into phase III clinical studies, clearly demonstrate the Company’s excellent progress towards its goal of becoming a leading global provider of active products to heal wounds and treat burns."
For more information on how South Yorkshire Investment Fund can help your business please call 01709 386 377.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).