Newsletter April 2021 – Spring has Sprung at Cline Scientific
Spring is upon us here in Gothenburg, and the Cline Scientific team have many exciting updates to share with you.
2020/2021 warrant results
In March 2021, Cline's 2020/2021 series warrant subscription period was completed, and the new shares have now been registered with the Swedish Companies Registration Office. A total of 2,942,255 Series B and 63,000 Series A shares were subscribed to during the issue.
The exercise of the warrants provides Cline with 10.1 M SEK and allows Cline to accelerate the development of both its projects towards preparation of clinical stages and propel Cline to future milestones.
“We are delighted by the subscription of our 2020/2021 warrant by many of our shareholders. This will further support Cline’s goal of bringing our world-class cancer diagnostic and cell therapy products to the market.” Patrik Sundh, CEO.
Potential change of stock exchange
In March 2021, the Company Board expressed interest in exploring the possibility of a stock list change to Nasdaq First North. The belief is that this will lead to greater exposure of Cline to international investors and partners. Nasdaq First North is Nasdaq's European growth market that operates as a multilateral trading venue (MTF), the same as Spotlight Stock Market. The intentions would be for such a move to take place during 2021.
VA Cure collaboration
Since our last newsletter, work has been continuing on the V.A Cure project in collaboration with AstraZeneca. Cline has been developing custom gradient surfaces to that are able to facilitate the development of vascular cells from induced pluripotent stem cells, similar to how we are able to create cartilage cells for StemCART. Vascular anomalies (VAs) is a group of rare diseases defined by blood- or lymph vessel dysfunction causing chronic pain, disabilities, and even sudden death, and for which effective treatments are lacking. By establishing models and understanding of the disease mechanisms, such as by establishing a IPSC-derived cell lines, a goal of the overall project is to undertake testing of new treatment strategies. Actual results will be released by AZ when determination of patentability and decision on publication has been made. Given the nature of the overall V.A. Cure project, these are factors that have to be considered before any results are communicated, and all decisions on such matters are made by AstraZeneca and the V.A. Cure Steering Committee. We will return with such news as soon as it is released.
StemCART
For our cartilage therapy project, StemCART, the scaffold development project in collaboration with Chalmers University of Technology, has been advancing well. Different scaffolds and matrix formulations are currently being developed and tested with the help of two Masters students. This scaffold will be part of the StemCART therapy product and house Cline's unique iPSC-derived chondrocytes and support cartilage regeneration in damaged knee joints.
The team has been continuing discussions with advisors and clinicians in the planning and preparation of clinical studies for an osteoarthritis therapy product.
Soon after our latest newsletter, the PCT patent application for Cline's unique StemCART method was filed. The PCT application is the international phase of the patent application process, which will then be followed by filing applications in individual countries where Cline seeks protection.
In positive news for the Regenerative Medicine market, the Alliance for Regenerative Medicine released their 2020 report Growth & Resilience in Regenerative Medicine. Financing in the sector reached USD 19.9B in 2020, doubling from the previous year. They predict 2021 is likely to be a record year for the number of regulatory decisions on new regenerative medicine products.
CellRACE
A new patent application has been written and filed with European Patent Office (EPO). The patent application covers the CellRACE device and method of determining the metastatic potential of tumor cells. This development is crucial to the success of CellRACE and is the first stage in the project’s intellectual property protection strategy.
Cline presents at Biostock Live
Did you miss our CEO Patrik Sundh on Biostock Live on 4th March?
You can watch the presentation and Q&A about the way forward for Cline on BioStock’s Youtube channel https://www.youtube.com/c/BioStockStudio/.
We will continue to keep you updated, keep an eye on the website and other communication channels to follow the development. Feel free to contact us if you have questions or suggestions, and do not forget to subscribe to our newsletter!
Warmest regards,
The Cline Team
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About Cline Scientific
Cline Scientific develops advanced cancer diagnostics and regenerative medicine treatments. The company is working heavily with R&D through joint collaborations with pharmaceutical companies and academic researchers around the world. The focus is on projects in the cancer diagnostic and stem cell therapy fields since Clines nanotechnology here provides unmet solutions to critical challenges and functions. The unique patented surface nanotechnology is used in cell-based products and processes to drive projects within Life Science into and through the clinical phase