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Life Sciences Collaborations hold key to £10m funding round for stem cell specialist
Life Sciences Collaborations hold key to £10m funding round for stem cell specialist | Collaborations hold key to £10m funding round for stem cell specialist |
| Written by Ben Fountain | |
| Wednesday, 09 April 2008 | |
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Stem cell pioneer MedCell BioScience is waiting on the result of potential new collaborations before it undertakes a funding round the company hopes will raise around £10m over the next 18 months. David Mountford, chief operating officer at both MedCell and sister firm, Vetcell, said there are a number of “interesting collaborative opportunities on the table at the moment.” Mountford would not reveal who the potential collaborators were, though he did say one is a UK-based regenerative medicine firm “which should add breadth to the company’s portfolio and broaden opportunities moving forwards.” MedCell is the human targeting sister firm to Newmarket-based VetCell BioScience, formed out of research from the the Institute for Orthopaedics and Musculoskeletal Science and the Royal Veterinary College that used stem cells from the same animal for the regeneration of damaged and diseased musculoskeletal tissues. VetCell is spending around £300,000 on Canadian and US expansion, and may consider further bases in Kentucky and California. Its revenue forecast for this fiscal year is $1.5m (£755k).
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