Israeli biotechnology company BioGenCell has completed a $16 million seed round led by Marius Nacht, the company announced this week.
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BioGenCell offers treatment of chronic limb-threatening ischemia typically found in patients with diabetes and heavy smokers. Its product contains cells that promote production of blood vessels, multipurpose stem cells that can function according to the tissue needs, and immune helper cells that support tolerance and regeneration of blood vessels. This special combination of cells supports a medical effect that is attributable to the combination of tissue regeneration and the removal of the inflammatory process in patients, even after many years of tissue damage. The improvement can be seen after one month and continues to improve over the years.
Having recently received FDA approval permission, BioGenCell is gearing up for Phase 2 clinical trial.
"The influx of capital and Mr. Nacht's investment will enable us to accelerate our efforts to promote our product and bring it to market as quickly as possible, so that we can treat patients who are in desperate need of the drug, which can prevent the severe consequences of the disease and relieve their pain and suffering," CEO of BioGenCell Yael Porat said.
