15 Sep 2015

Caixa Capital backs chronic wounds startup

Exogenus Therapeutics developing cell-derived gel

Exogenus Therapeutics (Exo-T), a company targeting chronic wounds, secured € 100 000 in investment from Caixa Capital. 

The company is developing a regenerative stem cell-derived gel for topic administration which significantly stimulates the healing of diabetic induced wounds. Exo-T’s product intends to significantly accelerate wound closure, reducing healing time, suggesting it may be particularly suited for the treatment of chronic wounds found in patients with diabetes, vascular disease or bed-bound patients. 

The technology originated from a collaborative research project, developed by the Biomaterials and Stem Cell-based Therapies group from CNC (Center for Neuroscience and Cell Biology), Crioestaminal S.A. and Biocant. The company was founded by two researchers, Joana Simões Correia and Ricardo Neves and a manager, Luísa Marques, after their participation in the COHiTEC Program by COTEC Portugal. 

With over 50 million people worldwide in need of better treatment for chronic wounds and a considerable expected incidence growth over the next years due to aging population, diabetes and obesity, Exo-T was one of the two projects selected in 2014 from COTEC’s acceleration program, which provided access to an investment from Caixa Capital to address this huge market need. 

Stephan Morais, Executive Director of Caixa Capital, stated that “This is another example that demonstrates that the quality of medical and scientific research in Portugal is extremely high and that are emerging world-class Portuguese startups in Life Sciences’ area”. 

Joana Simões Correia, CEO of Exogenus Therapeutics, affirmed that “The regenerative potential of our technology relies in “components” extracted from umbilical cord blood stem cells, and is a highly promising solution for a problem affecting the lives of millions of people worldwide. This investment is crucial for us to be able to continue the clinical development of the product and takes us one step closer to clinical trials in humans, which we expect to start in two years, once we secure larger funding needed.” 

Caixa Capital –  

Caixa Capital is the Private Equity and Venture Capital fund management company of Portugal´s largest banking group Caixa Geral de Depósitos, present in over 20 countries and with assets above 120 billion Euros. With a total of close to 750 million Euros under management, the largest and most relevant in the country, Caixa Capital invests in growth equity and venture capital opportunities and funds. The Venture Capital team partners with incubators, accelerators and business angels for seed and startup investments and with major international venture funds for opportunities above 1 million Euros. The team aims to support global expansion of Portugal related teams and companies and has dedicated team members to ICT, digital, health tech, engineering and clean tech investments 

Exogenus Therapeutics 

Exo-T is a biotechnology start up dedicated to the development of advanced cellular based therapies, specifically for skin lesions treatment. Our first product Exo-Wound, aims to revolutionize the treatment of chronic wounds and change the lives of millions of patients worldwide. The company was founded by two researchers, Joana Simões Correia and Ricardo Neves and a manager, Luísa Marques, after their participation in the COHiTEC Program by COTEC Portugal.