The startup Exogenous Therapeutics, which was created with the support COHiTEC 2014, has raised a second round of funding worth 800 thousand euros, led by Caixa Capital.
The funding will enable the company to advance the development of its innovative treatment for chronic wounds and was assured by the venture capital companies Caixa Capital and Change Partners.
Exogenus Therapeutics had already received a proof-of-concept investment of 100 thousand euros from Caixa Capital, which was raised in the sequence of the selection of the project as one of the most promising of the year at COHiTEC.
Exogenus Therapeutics is a biotechnology startup that results from investigation carried out by the Centre for Neuroscience and Cell Biology from the University of Coimbra, the company Crioestaminal and the Biocant Park.
The project participated in COHiTEC 2014 by COTEC Portugal, continues to receive the support of COTEC’s executive team and is being physically incubated in Biocant.
The company’s first product will be Exo-Wound, an umbilical cord blood derived therapy that enables an effective treatment of chronic wounds, which are wounds that do not heal for at least six weeks and which are common in patients with diabetes, cardiovascular diseases and bedridden people.
Exogenus Therapeutics has already made animal tests in which they showed that the therapy does not cause rejections and that after 10 days of application it is 50% more efficient than competing therapies. The startup expects that in the year 2019 the product can enter the clinical trials phase.
Last November, Exogenus Therapeutics had been the winner of the Prize Young Entrepreneur, awarded by ANJE.
In a statement, Joana Correia, researcher and one of the company’s founders, said that «This funding is crucial to continue the development of Exo-Wound, and we must acknowledge the leadership of Caixa Capital in raising this seed round executed with Change Partners as a co-investor. We now have conditions to take Exo-Wound one step closer to the clinical tests.».
Stephan Morais, Caixa Capital Executive Director, revealed that the venture capital company is looking forward «to continue working with the Exo-T’s team to help bring this innovative solution to the millions of patients affected by chronic wounds».