InnovationsKapital and A+ Science Invest become partners in the stem cell company Cell Therapeutics Scandinavia AB
InnovationsKapital and A+ Science Invest become partners in the stem cell company Cell Therapeutics Scandinavia AB InnovationsKapital is investing SEK 8 million in Cell Therapeutics Scandinavia AB, which bases its activities on stem cell research being carried out by world-leading researchers at Göteborg University and Sahlgrenska University Hospital in Sweden. The investment is being made together with A+ Science Invest AB and the strategic partner Vitrolife AB. It will secure the establishment of an organisation and laboratories, the creation of protocols for cell cultures and cell characterisation, and help to secure patents in this area. A more comprehensive round of financing is planned for Spring 2002. "We are very pleased to take the first critical step by introducing intelligent capital, relevant expertise and a strategic partner for the company's patents and know-how. The start couldn't have been better," says Johan Hyllner, CEO at Cell Therapeutics Scandinavia AB. "We are very excited by the formation of Cell Therapeutics. The projects and intellectual property that A+ Science Invest brings to Cell Therapeutics, in this area of great potential, can now be further developed within a grouping that has the critical mass to ensure future success for the product concepts", says Boo Edgar, CEO at A+ Science Invest AB. Research into stem cells has the potential to relieve and cure several diseases that today affect many people globally, including diabetes and Parkinson's disease. Stem cell research also has the possibility of producing new tools for bio-medical research such as testing different biological substances including pharmaceuticals. "The founders of Cell Therapeutics have leading-edge knowledge and years of experience in the field of stem cell technology, which creates the right conditions for Sweden to lead this development from an international perspective. We must realise that stem cell research is in its early stages and we have a long way to go before this area's full potential can be fully exploited," says Gunnar Fernström, who will represent InnovationsKapital on the board of Cell Therapeutics. Göteborg 17 September 2001 For further information please contact: Gunnar Fernström, Investment Director, InnovationsKapital on: +46 (0)31 60 91 92 or +46 (0)703 12 05 03 or at gunnar.fernstrom@innkap.se Johan Hyllner, CEO Cell Therapeutics Scandinavia AB, +46 (0)31 741 17 28 or +46 (0)708 22 80 28 or j.hyllner@scandinaviaqc.se Boo Edgar, CEO A+ Science Invest AB (publ) +46 (0)31-778 2131 or +46 (0)708 888 427 or boo.edgar@a-plusscience.com InnovationsKapital was founded in 1994 and is today one of Sweden's leading early stage venture capital firms for innovative growth companies. The business, carried out from offices in Gothenburg and Stockholm, is focused on Nordic investments within ICT and HealthCare & Life Sciences - dynamic sectors that are rapidly expanding and where Nordic research plays a leading role. The capital (EUR193 million) is managed in three funds and is provided by highly reputable Swedish and international institutional investors. Further information about InnovationsKapital can be found at www.innkap.se A+ Science Invest AB (publ.), formed 1997, identifies, evaluates, acquires, finances, develops and commercialises patentable and marketable inventions arising from medical and scientific research, with a focus on healthcare. For additional information on A+, please visit our website www.a- plusscience.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/17/20010914BIT00640/bit0001.doc http://www.waymaker.net/bitonline/2001/09/17/20010914BIT00640/bit0001.pdf