British Biotech Cell Therapy Successfully Raises Nearly £690,000 For Heart Medication on Crowdcube

Cell Therapy, British biotech company co-founded by Nobel Prize winner Sir Martin Evans, announced that it has raised £689,246 through crowdfunding platform Crowdcube to help cell-based regeneration medicine for heart trauma get to the market.

Cell TherapyThe project’s description reads,”Cell Therapy Limited (CTL) has developed a breakthrough stem cell medicine, Heartcel that regenerates heart muscle damaged as a result of heart attack or heart failure. This potential to regenerate damaged heart tissue in situ, is beyond conventional medical treatments and was discovered and developed in-house by CTL. Heartcel is scheduled to launch in 2016 in the $50B global heart failure market that affects 20 million patients worldwide.

According to Reuters, executive director Ajan Reginald recently shared that crowdfunding was a quick way to raise money for the final stage trials and commercial launches. Today, he revealed, “It was very fast and very efficient. We have spent 5 percent of our time on fundraising, which enables me to spend 95 percent of my time on the business.”

Evans ReginaldReginald noted that backers of the medication’s project included investment bankers, hedge fund employees and scientists. “Crowdfunding allows investors to look in detail at a company in their own time.”

Reginald is former senior executive and deal-maker at Roche Pharmaceuticals, the £130 Billion Swiss Bio-Pharmaceutical group. He started at Roche as a deal maker for Roche Pharmaceuticals, becoming a Business Development Director and leading the valuation and acquisition of medical companies and medicines in clinical trials.

The media outlet also announced that Cell Therapy is set to publish data from clinical trials for the drug next month, which is before the final stage trials will begin.

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