Advancell increases capital and closes a round of funding worth €1.8 million
Advanced In Vitro Cell Technologies (Advancell) has increased its capital by opening the door to investment from the venture capital groups Talde and Unirisco Galicia, whose holdings will be 9.27 and 1.85%, respectively. In a related move, BCNemprèn reasserted its initial confidence in the project by increasing its holding to 15.6%.
According to Lluís Ruíz-Ávila, Director General of Advancell, “the incoming capital will serve to strengthen the company’s structure, prioritize the development of products and reagents for research into new drugs, and promote the development of the sales network and the international expansion of the company over the coming years”.
Talde, which led the round of funding, is a pioneering, private venture capital group which has been involved in the creation and consolidation of over 130 companies. It currently manages resources worth €73 million and has capital holdings in over thirty companies, its total investment exceeding €42 million.
Unirisco Galicia has acquired a holding with the aim of supporting the creation of value through scientific and technological partnerships with various research groups from the Universidad de Santiago (University of Santiago).
In a related operation, the Spanish innovation firm, ENISA, linked to the policy management board for small and medium-sized businesses of Spain’s Finance Ministry, has also made a contribution through a participative loan worth €400,000, the money coming from funds which are jointly managed with the Spanish Ministry of Science and Technology.