NEWS
Morphocell Technologies Announces Completion of US$40 Million Series A Financing to Transform the Treatment of Liver Disease
Laval, Québec, April 4, 2024 - Morphocell Technologies Inc. (Morphocell), a fast-growing Montreal-based biotechnology company in the cell therapy space, proudly announces the closure of a US$40 million Series A funding round.
This significant financial milestone, led by Genson Capital, a Montreal-based investor specializing in life sciences and MedTech, marks a pivotal moment for Morphocell. In a fast-growing sector, the funding is set to fuel the company’s groundbreaking journey towards a first-in-human clinical trial of the first cell therapy issued from its tissue engineering platform, aimed at transforming liver disease treatment globally.
Founded in 2018 by a trio of medical doctors, stem cell scientists, and biotech entrepreneurs, Morphocell was born out of a desire to meet the urgent needs of patients suffering from liver disease. Spearheaded by Dr. Massimiliano Paganelli, a distinguished pediatric hepatologist, the company leverages its origins from CHU Sainte-Justine (Canada's largest mother and child university hospital) and the Université de Montréal, blending medical excellence with leading-edge process development and cell manufacturing.
Morphocell’s flagship product, ReLiver®, is a testament to the company’s commitment to innovation. This stem cell-derived therapy is designed to replace liver function and promote regeneration in patients with liver failure, with preclinical data suggesting that it might offer a promising alternative to liver transplantation. ReLiver® stands out for its allogeneic approach but with no risk of rejection, eliminating the need for immunosuppression and thereby setting a new standard for treating severe liver conditions.
Dr. Paganelli highlights the significance of this investment: "This financing is more than just a capital boost; it's a leap forward in our mission to bring life-saving solutions to those battling liver disease. It enables us to accelerate our path to commercialization, expand our team with top-tier talent, and, most importantly, bring hope to patients and their families. At Morphocell, we're driven by a patient-centric philosophy, aiming to not only save lives but also enhance the quality of life for children and adults worldwide."
With this Series A funding, Morphocell is poised to strengthen its leadership in the liver cell therapy space and make significant strides in the global life sciences landscape, bringing its vision of innovative, accessible treatments for liver disease closer to reality.
About Morphocell Technologies Inc.
Morphocell Technologies is a Montreal-based regenerative medicine company focused on the development and commercialization of stem cell-derived tissue and organ replacement therapies. Its iPSC-derived platform technology has a large pipeline potential touching different organ deficiencies, with severe liver disease being the initial focus. Morphocell prides itself on its culture of innovation, technical excellence, and commitment to improving patients' lives.
Media Contact:
Mathieu Pagé
Advisor
Exponentiel
mpage@exponentiel.ca
514-942-9295