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Abcellute secures additional £400K funding to refine preservation technology and initiate cell therapy programme

11 Dec 2007 - Abcellute, the Cardiff University spin-out, has announced a major injection of funds which will enable it to accelerate its cell therapy programme based on the company's unique non-freezing cell preservation technology. The £400K means that a total of £1.2 million has already been raised over the last 12 months. During the same period Abcellute and a range of collaborators have repeatedly demonstrated that freshly isolated human hepatocytes preserved in Abcellute's matrix remain viable and retain essential functions for up to 7 days. This has major implications for cell therapy and the entire pharmaceutical industry.
 
Alex Watson, Chief Executive Officer, Abcellute Ltd said: "We are delighted to have received this funding from such experienced investors. Having obtained proof of concept of Abcellute's unique cell preservation technology through numerous external evaluations conducted by leading pharmaceutical companies, contract research organisations and academic institutes in Europe, the USA and Japan, we are now seeking to implement a planned programme of new research studies. In addition to the further refinement of the cell preservation technology, Abcellute will now be able to exploit its potential in cell therapy."