New source of capital for company as pipeline develops
IC3 tenants Videregen Limited, a clinical stage regenerative medicine company developing personalised organ replacements, is pleased to announce that it has become a member of the UK Social Stock Exchange (SSX), a platform which links up businesses and investors focused on impact investing. The SSX provides a significant new source of capital for Videregen as it develops and expands its replacement organ portfolio for orphan diseases. Membership of the SSX also underlines the potential social impact of Videregen’s products, in terms of improved quality of life for patients with severe diseases and reduced costs to healthcare systems.
The Social Stock Exchange brings together businesses and investors seeking to achieve a positive social and environmental impact through their activities. Using the Impact Reports generated by member companies, investors can seek out investments that reflect their goals, often in their local area. The SSX also hosts a range of events to connect investors and companies. Longer term, membership of the exchange offers the potential for Videregen’s shares to be listed on a trading exchange.
Videregen’s lead product is a tissue engineered replacement trachea, for which UK MHRA and ethics approvals are in place for a formal Phase I trial. In addition to poor quality of life and significant societal costs, severe tracheal disease is associated with EU/US healthcare costs of over £1.6bn per annum. Follow-up projects include organ replacements for the larynx, airways mucosa, small bowel and liver.
Steve Bloor, CEO of Videregen, said, ‘We are pleased to be joining the Social Stock Exchange, membership of which underlines the potential impact for both patients and healthcare systems of our portfolio of replacement organs for orphan diseases. It also gives Videregen access to an important new source of finance to enable us make our products commercially available as soon as possible.’