SmartCella has completed a new share issue, raising approximately €50m ($54.17m) to expedite its growth and bolster the commercialisation of its endovascular device, the Extroducer, as well as strengthen cell and mRNA operations.

Approved by the US Food and Drug Administration (FDA) in June 2022, the device facilitates direct tissue or organ infusion into hard-to-access organs and tumours, including the kidney, pancreas, and liver.

The funding round garnered support from both existing and new investors. Institutional investors such as Fjärde AP-fonden, AMF Pension, and SEB-Stiftelsen continued their support.

It also involved participation from new stakeholders, including AstraZeneca, Handelsbanken Fonder, and RoosGruppen.

Furthermore, major shareholders Christian Kinch and Thomas von Koch, through SWIB, maintain their significant investment in the company.

SmartCella plans to channel these funds into further organisational and infrastructural investments, while also ramping up commercialisation and marketing initiatives for the Extroducer.

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SmartCella operates through three primary divisions, including Smartwise, SmartCella Solutions, and ProCella.

Smartwise is at the forefront of developing and manufacturing the Extroducer, which is designed to allow direct tissue / organ infusions through the vessel wall into organs and tumours.

SmartCella CEO Niklas Prager said: “With the new proceeds, we will continue to build our organisation and drive accelerated growth. We will have a specific focus on ramping up the commercialisation of the Extroducer, which I believe is one of the most groundbreaking innovations in targeted delivery solutions, carrying therapies directly into otherwise hard-to-reach tumours or organs.

“The Extroducer, combined with our world-class research and knowledge in cell and mRNA therapies, makes SmartCella unique. This capital raise is a landmark event for us – and our journey has only just begun.”