Stimuliver raises DKK 15m to develop remote stem cell therapy for liver patients
BioInnovation Institute invests alongside Vaekstfonden
First-in-class, off-the-shelf regenerative stem cell therapy with unique potential to treat acute and chronic liver diseases
Copenhagen, Denmark, 26 September 2022 – Stimuliver ApS, an emerging biotech company developing a first-in-class tissue implant to treat acute and chronic liver diseases, today announces financing of DKK 15m by BioInnovation Institute and Vaekstfonden, the sovereign investment fund of Denmark.
Stimuliver was founded in Denmark by David Hay and Dagmara Szkolnicka and is a spinout from the Edinburgh Innovations, the University of Edinburgh’s commercialisation service. The company is developing a scalable, safe and effective treatment for liver diseases using liver tissue implants developed from pluripotent stem cells.
Stimuliver has developed revolutionary proof-of-concept data which demonstrates that human liver tissue can be administered under the skin, providing long-term host liver support. For chronic liver disease patients, there are benefits of implanting cells subcutaneously, as the liver is highly inflamed in these patients, making it a hostile environment for cell therapies. By utilizing pluripotent stem cells as a source of tissue, the technology Stimuliver has developed is scalable and not dependent on donor organ availability. This may in the future provide a treatment which is available without waiting time and has the potential to reverse liver disease and prevent hospitalizations.
Stimuliver is incubated at the BioInnovation Institute in its newly announced Venture House program.
David Hay, co-founder and CEO said: “We are excited to be part of the BII’s Venture House programme and to have received co-investment from Vaekstfonden. The funding that Stimuliver has secured will be focussed building out the company and preclinical testing, vital to the translation of the world leading liver implant technologies engineered at the University of Edinburgh”
Maria Henriques de Jesus, Business Developer at BioInnovation Institute, commented: “We are thrilled to continue our support of Stimuliver into the Venture House program as its mission to develop off the shelf treatment for patients suffering from liver diseases is urgently lacking. The team has shown immense growth during the Venture Lab program, and we are happy to see how their ability to secure further funding exemplifies how excellent international science can thrive in Denmark.”
Nina Haldipur, Senior Investment Manager, Vaekstfonden, stated: “We are delighted to partner with the Bioinnovation Institute to invest in Stimuliver, whose regenerative and scalable approach holds potential to serve a high unmet medical need. Denmark is a leading nation in life science innovation, and Stimuliver is a great example of the ecosystem’s ability to attract and develop startups that are shaping the future of health.”
For more information please contact:
Stimuliver
David Hay, CEO
dave@stimuliver.bio
NOTES TO EDITORS
About Stimuliver
Stimuliver is a Danish biotech company with technology from the University of Edinburgh, established to develop a scalable, safe and effective treatment for diseases affecting the liver. The company’s first-in-class liver tissue implant aims to treat both acute and chronic liver diseases for which there are limited or no treatment options currently available. www.stimuliver.bio
About Vaekstfonden
Vaekstfonden is the Danish state’s investment fund. Working in close collaboration with banks and domestic and international investors, Vaekstfonden discovers and develops the companies that Denmark cannot afford to miss out on. The power of innovation, yield to society and responsibility are the three signposts that guide Vaekstfonden in finding and choosing new projects. Since 1992, Vaekstfonden has contributed more than DKK 44 billion to help develop and grow more than 11,000 companies. www.vf.dk
About BioInnovation Institute
BioInnovation Institute is an incubator supported by the Novo Nordisk Foundation to accelerate world-class life science innovation that drives development of new solutions by early life science start-ups for the benefit of people and society. BII, located in Copenhagen, Denmark, offers start-ups and early-stage projects within health tech, therapeutics and bio-industrials 2300 square-meters of state-of-the art labs, vibrant office facilities, business development, start-up business incubation, access to high-level mentoring and international networks plus unique funding opportunities of up to EUR 1.3 million per start-up and EUR 2.4 million per project. BII also regularly hosts highly recognized international speakers within life sciences as part of the ‘Talks at the Square’ event series. Since the inauguration of BII in November 2018, BII has awarded 45 million euro to innovative entrepreneurs. Read more at www.bii.dk