Cell Therapeutics expands

Innovations Kapital and A+ Science Invest have committed SEK8 million to the cell company Cell Therapeutics Scandinavia. The investment will secure the establishment of more laboratories, the creation of protocols for cell cultures and cell characterisation, and help to establish patents in this area. A further funding round is planned for spring 2002.

The company focuses on stem cell research which is carried out by world-leading researchers at Gteborg University and Sahlgrenska University Hospital in Sweden. Research into stem cells has the potential to relieve and cure diseases such as diabetes and Parkinsons. It may also produce new tools for bio-medical research by testing different biological substances including pharmaceuticals.

Gunnar Frenstrm, who will represent InnovationsKapital on the board of Cell Therapeutics, said: “The founders of Cell Therapeutics have leading-edge knowledge and years of experience in the field of cell technology, which creates the right conditions for Sweden to lead this development from an international perspective.” He added that stem cell research is still in its early stages and has a long way to go before its full potential can be exploited.