STOAF II PORTFOLIO COMPANY ILYA PHARMA AWARDED €5.3M FROM EIC ACCELERATOR TO FAST TRACK PHASE II STUDY OF FIRST-IN-CLASS ILP100 ADVANCE THERAPY FOR WOUND TREATMENT IN PEOPLE WITH DIABETES
Ilya Pharma, a clinical stage biopharma company developing novel chemokine gene therapies with its ILP-technology platform, today announced that it has secured a total of Euros 5.3 million in funding from the European Innovation Council (EIC) Accelerator program of blended financing.
The funds will enable Ilya Pharma to accelerate a Phase II Trial of its lead drug candidate ILP100 which has the potential to heal problematic non-healing wounds in diabetes, potentially up to 80% faster, and deliver savings to overburdened healthcare systems of Euros 6 billion annually. The EIC Accelerator (SME Instrument) award supports small and medium-sized companies with breakthrough innovations and the potential to create new markets or redefine existing ones globally. Less than 5% of applicants selected for the prestigious award succeed, but Ilya Pharma joins an even more select group by having now won for a second time – the first in 2018 also for ILP100 developments in a first in human clinical trial.
In an oversubscribed new share issue, the medtech company Uman Sense has raised SEK 6.3 million. Among the new co-owners are STOAF III SciTech, Gobia Enterprises, and Queen Invest. Uman Sense has developed and CE-marked the medical device Stroke Alarm, a medical device which is now being tested in a clinical trial on patients at a high risk for stroke.
STOAF III SciTech och Almi Invest each invests 1.9 MSEK in Developeration AB, who has developed an innovative surgical instrument for treatment of hemmorhoids. The emission of 4.4 MSEK will be used for further product development and clinical trials. Hemorrhoids affect about 25 percent of the population over the age of 50 in the Western world. There are currently several different ways to treat hemorrhoids, but they carry a high risk of recurrence or complications, are expensive, take a long time, require access to the operating theater, are painful, or a combination of these.
STOAF II portfolio company PERCEPIO ANNOUNCES SUCCESSFUL CLOSING OF A 22 MSEK (2.3 MUSD) SERIES A FUNDING ROUND
Percepio announces the successful closing of a 22 MSEK (2.3 MUSD) Series A funding round led by Fairpoint Capital AB. The investment is intended to scale up operations and accelerate the product development roadmap, with a focus on embedded software and Internet of Things (IoT).
STOAF II PORTFOLIO COMPANY ILYA PHARMA AWARDED €5.3M FROM EIC ACCELERATOR TO FAST TRACK PHASE II STUDY OF FIRST-IN-CLASS ILP100 ADVANCE THERAPY FOR WOUND TREATMENT IN PEOPLE WITH DIABETES Ilya Pharma, a clinical stage biopharma company developing novel chemokine gene therapies with its ILP-technology platform, today announced that it has secured a total of Euros 5.3 million in funding from the European Innovation Council (EIC) Accelerator program of blended financing.
Stoaf III SciTech, Almi Invest and others invest 4,8 MSEK in VOC Diagnostics. It is part-financing of a further development and testing of its unique sensor-equipped instrument used for diagnosing ovarian cancer. VOC Diagnostics has recently employed Linda Spahiu as its CEO. The financing is to be used to complete the instrument for clinical use, clinical studies and CE certifcation.
SILICON VALLEY VC LEGEND CLIFFORD HIGGERSON INVESTS IN STOAF III SCITECH AND BECOMES ITS SENIOR ADVISOR
Cliff Higgerson, Palo Alto, CA, previous General Partner in several VC-funds in Silicon Valley invests in Stoaf III SciTech and accepts to become its Senior Advisor. "We are very happy to see the confidence of a Silicon Valley heavyweight such as Cliff shows for Stoaf by investing in our third fund" says the fund´s CEO and General Partner P A Wärn. "He will via his long and successful experience as General Partner in ComVentures and Vanguard Ventures contribute valuable competence to our GP team".