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SmartCella raises $54 million to commercialize endovascular device

Posted on by darion

The device facilitates direct infusion of tissue or organ into hard-to-reach organs and tumors, including the kidney, pancreas, and liver. Source: Tattoboo / Shutterstock.

SmartCella has completed a new share offering, raising approximately €50 million ($54.17 million) to accelerate its development and support the commercialization of its Extroducer endovascular device, as well as to strengthen its cell and mRNA activities.

The device was approved by the U.S. Food and Drug Administration (FDA) in June 2022 and enables direct infusion of tissue or organs into hard-to-reach organs and tumors, including the kidneys, pancreas and liver.

The financing round was supported by both existing and new investors. Institutional investors such as Fjärde AP-fonden, AMF Pension and SEB-Stiftelsen continued their support.

The project also involved new stakeholders, including AstraZeneca, Handelsbanken Fonder and RoosGruppen.

In addition, major shareholders Christian Kinch and Thomas von Koch, through SWIB, maintain significant investments in the company.

SmartCella plans to use these funds for further organizational and infrastructure investments, as well as to intensify commercialization and marketing initiatives for Extroducer.

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SmartCella operates through three main divisions: Smartwise, SmartCella Solutions and ProCella.

Smartwise is a pioneer in the development and manufacturing of the Extroducer, a device that enables direct injection of tissue/organs through the vessel wall into organs and tumors.

SmartCella CEO Niklas Prager said: “With this new addition, we will continue to build our organization and drive accelerated growth. We will focus on accelerating the commercialization of Extroducer, which I believe is one of the most groundbreaking innovations in targeted delivery solutions, bringing therapies directly to hard-to-reach tumors or organs.

“Extroducer, combined with our world-class research and expertise in cell therapies and mRNA, is what makes SmartCella unique. This fundraising is a game-changer for us – and our journey is just beginning.”