Histocell, the Basque biotechnology firm specialising in cellular therapy has ended the second half of this year with an expansion of capital worth three million Euros which will allow it to boost the development of its R&D in the next four years.
Histocell’s new partners, in addition to providing a significant boost to the company’s capital, offer huge added value to the company, either because they are companies recognised in the health and biopharmaceutical sector or because they have broad experience in the Spanish business and finance sector. In addition, “the positive reception of our offer has shown us the support and confidence that Histocell generates among businesses and business people in the biopharmaceutical sector in Spain” added Julio Font, Chairman of Noray Biosciences Group (Noray BG), to which Histocell belongs.
The new shareholders include the Igualatorio Médico Quirúrgico (IMQ) who, in becoming shareholders of Histocell, have demonstrated their decision to be active in the different sectors relating to health and dependence and, more specifically in this case, their firm support for Basque biotechnology; Venture Capital Management by SPRI and private investors from the business and financial sector including the Erictel group or Mikel Urizarbarrena, founder of Panda Software. The new shareholders hold 23.8% of the company’s social capital, while the majority of the company remains the property of Noray BG.
The managers of Histocell, who have carried out the extension of capital without the need for external help, have sought out these and other relevant shareholders in the hope that, in addition to capital, they will offer added value to the company. Julio Font, Chairman of Noray BG maintains that “the new partners join the company to be with us in the medium and long term in the development of R&D. Our objective is to place two of the osteoarticular regeneration products we are currently developing in clinical phases”.