New source of capital for company as pipeline develops
Liverpool, UK – June 12 2017: 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 Reports1 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.’
1 Videregen’s May 2017 Impact Report is available on the Social Stock Exchange website.
The Social Stock Exchange’s press release is here
For more information, please contact:
Dr Steve Bloor, CEO
+44 (0) 151 482 9350
Emma Palmer Foster, Strategic Communications Consultant
+44 (0) 7880 787185
Videregen is a clinical-stage regenerative medicine company using its proprietary stem cell-based technology platform to develop a range of personalised, non-immunogenic organ replacement products for orphan indications. Its lead programme is a tissue engineered trachea replacement, and its patented technology and know-how is also being applied to the development of other organ replacement products, including mucosal lining, small bowel and liver replacements. The platform technology, which uses decellularised organ scaffolds seeded with the patient’s own cells to create new organs, has the potential to generate cost-effective and curative therapies for a range of devastating diseases. The decellularisation technology was originally developed at Northwick Park Institute for Medical Research. Founded in 2011, Videregen is an SME based in Liverpool, and is a member of the UK Social Stock Exchange.
About the Social Stock Exchange
The Social Stock Exchange supports innovative organisations which deliver social and environmental impact alongside financial performance. The Social Stock Exchange not only provides access to the first public market dedicated to enterprises making the world a better place, but also enables members to increase their visibility and profile, and connects them with investors aligned with their values. All issuer member companies must meet a rigorous set of criteria before joining, including the annual publication of an Impact Report. http://socialstockexchange.com/