News

Cellvie raises 5 million US dollars

The life sciences firm Cellvie has successfully closed a seed funding round. With gross proceeds of 5 million US dollars, the aim now is to further develop products in the areas of organ transplantation and rejuvenation therapies.

Generic Image.
Generic Image: PxHere

Cellvie is a Harvard University spin-off that focuses on the development of medicines on the basis of cells, in so doing seeking to exploit the potential of mitochondria. The start-up, which is based in the St.GallenBodenseeArea, has now successfully raised a total of 5 million US dollars as part of a seed funding round, which, according to a press release, was led by Kizoo Technology Capital.

Cellvie intends to use the gross proceeds from this financing round to drive forward product development. Specifically, a clinical trial in the field of organ transplantation is to be prepared, while the company is also keen to expand its development program in the area of rejuvenation therapies.

Mitochondria are responsible for generating the majority of cellular energy. In cases where mitochondria stop functioning properly, this can lead to diseases such as Parkinson’s and Alzheimer’s or even cause heart attacks and strokes. “But treating mitochondria has proven to be an arduous challenge”, comments Dr. James McCully in the press release. He is one of the founders of Cellvie and an Associate Professor at Boston Children’s Hospital. Moreover, McCully devised the Therapeutic Mitochondria Transfer (TMT) approach, as detailed in the press release. Due to the challenging nature of this treatment, McCully and his colleagues switched their focus to “introducing healthy, viable mitochondria into cells where these organelles are impaired. To great effect. We can sustainably reinvigorate cells’ failing energy metabolism”, McCully states.

According to the press release, this success has been demonstrated in a clinical trial at Boston Children’s Hospital. Overall, this showed that 80 percent of the children who had suffered a cardiogenic shock subsequently displayed indications of myocardial recovery, as against original expectations of just 29 percent. “The implications of our findings are ground-breaking. We may have the chance to bring about a new treatment modality”, explains Dr. Alexander Schueller, co-founder and CEO of Cellvie.

Handbook for Investors

Our Handbook for Investors provides valuable information about technologies and production costs, taxes and financing, as well as the legal system and infrastructure in Switzerland. Browse through the complete handbook online or download the chapters most relevant to you.

Share
How should we contact you?

Premium Partner

Strategic partners

Institutional partner

Official program