English

16.09.2011

Stemmatters Targets Orthobiologics Market

Raises $2.25M from a syndicate of private investors
Stemmatters, SA, a biotech company, focused on the development of biomaterials, medical devices and advanced therapy medicinal products (ATMPs) targeting musculoskeletal conditions, has successfully closed its first funding round in the total amount of $2.25M ( €1.6 M). The funding has involved several private investors, including three venture capital firms namely Pathena, Caixa Capital, and Beta Capital. The company will use the new funds to support the development of new technology and the launching of the business.

According to Rui L. Reis, Pr esident, CSO and Founder, Stemmatters aims “To relentlessly counteract the health impact of aging by developing and clinically deploying novel and effective products and services for tissue repair and regeneration. We want to make use of previous research experience from the 3B´s Research Group o f U. Minho. At Stemmatters, we have been wo rking in the development of new injectable biomaterials that can be used for a large variety of applications, including treatment of connective tissues like cartilage”. Stemmatters is currently developing new injectable hydrogels based on natural deriv ed polysaccharides that can be used alone or i n combination with cells for the treatment of musculoskeletal conditions. These unique materials can be processed with tunable crosslinking density using temperature, physiological cations and UV light, and can be injected at the defect site using mini m al ly invasive procedures, while being ideal f or cell encapsulation.

Rui A. Sousa, CEO of Stemmatters added: “The orthobiologics market is and will continue to be a very exciting opportunity for a company such as ours as the key drivers for this market remain strong. We are very commit t ed to research and development of new biomaterial s, and to explore their combination with human stem/progenitor cells. The application potential of our materials can be significantly leveraged by our know-how in tissue engineering, as these materials constitute promising platforms for developmen t o f ATM Ps”. In addition to its pipeline, Stemmatte rs is launching cell banking services targeting storage of adult stem cells from different tissue sources.

About Stemmatters
Stemmatters is a biotechnological company focused on the development and marketing of novel products and ser v i ces f or t issue repair and regeneration, situated at Ave pa rk Technological Park (Guimarães, Portugal). Stemmatters facilities are located in the top floor of the building hosting the Headquarters of the European Institute of Excellence on Tissue Engineering and Regenerative Medicine. Company i nd epe nde nt fa cilities include a GMP compliant plant for the pro cessing and storage of human tissues and cells, and state of the art research and development laboratories.

Further Contact
Rui A. Sousa, rasousa@stemmatters.com

Fonte: Stemmatters press release


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