Publication date: 17/05/2018
Global Stem cell Technology (GST) NV, a front-runner in the field of veterinary stem cell therapy, today announces that it has raised EUR 5 million of funding. The funds will be used for the further development and commercial launch of its veterinary product portfolio with a focus on orthopaedic injuries, such as tendinitis and arthrosis. Arti-Cell® Forte, GST’s lead product for the treatment of osteoarthritis in horses, is currently under review with the European Medicines Agency (EMA). The company anticipates a formal approval by 3Q18, after which the product will be commercially launched in the EU and beyond. The investment round was subscribed by a consortium of Anacura and PMV.
Jan Spaas, CEO at GST: “This financing round gives GST the oxygen to develop different regenerative therapies for animals suffering from arthrosis and tendon injuries. At this point, no effective treatments are available for these diseases, while 1.2 million horses are suffering from tendinitis and 15 million dogs from arthrosis in the whole of Europe. It is therefore our mission to develop these therapies as fast as possible on the one hand and with the most possible care for quality, safety and efficacy on the other hand. The high medical need for novel therapies drives GST’s team every day to go the extra mile and think out of the box. This financing round confirms a strong commitment of shareholders and investors who rely on the innovative technology, company potential and dynamic team.”
Griet Nuytinck, CEO at Anacura: “We are part of GST since 4 years now and consider GST as the crown jewel in veterinary regenerative medicine. The company does not only possess a robust research and development department with more than 25 scientific publications, but is also considered as a leader in production using our state-of-the-art clean room facilities.”
Roderick Verhelst, investment manager at PMV: “We are proud to be part of this innovative and advanced company in Flanders. GST is a pioneer in veterinary stem cell research with evidence-based and effective therapies. The company is led by a diverse, dynamic and driven management team with a strong track record in the development of stem cell therapies and previous successes in the registration process of veterinary medicines.”
GST is an R&D and production company for veterinary stem cell products. As a basis for these stem cell therapies, GST uses highly potent stem cells from blood of mammals. The key expertise and IP portfolio include the purification of these stem cells and inducing them towards the cell type which
needs to be repaired in the injured tissues. This results in significantly higher clinical effectiveness of the different stem cell products. Because these stem cells are not being recognized by the immune system (even after repeated administrations), they allow universal administration without matching
between donor and acceptor. For this reason, GST is able to select the most potent stem cells from young healthy donors and use these to treat injured animals. With one potent stem cell, more than 40 billion stem cells can be produced which corresponds with 20,000 treatments. GST is the first
European veterinary stem cell company that obtained a manufacturing authorization from the competent health authorities. The first product, Arti-Cell® Forte has already proven efficacy in 78% of horses with arthrosis in a phase III field trial, which is superior to the standard use of care. These
promising results encouraged the company and shareholders to develop other stem cell based products for other indications.
Anacura is an independent analytical centre of excellence, with 230 staff members offering a broad range of high-quality pharmaceutical analyses (Anacura Life Sciences) and medical analyses (Anacura Medical). Anacura Life Sciences provides analytical services during development of novel drugs (small molecules, large molecules and cell and gene products). We partner with drug developers by providing on time GMP analytics with expertise. Anacura Medical is specialized in evidence-based laboratory medicine. Our priority is to provide physicians timely with high quality, accurate diagnoses
supported with personalized advice based on expert interpretation of test results.
PMV is a do and dare company that shapes the economic future of Flanders. PMV finances promising companies from the very start to growth and internationalization. PMV offers tailor-made financial solutions for every entrepreneur with a solid business plan and a strong management team, by
providing venture capital, loans and guarantees. An experienced and highly motivated team of 120 professionals endeavors every day to achieve the goal of creating prosperity and well-being in Flanders. By the end of 2016, PMV had a portfolio of about EUR 1 billion in assets under management.