Exo-T (Exogenus Therapeutics), winner of COHiTEC 2014 and ANJE Young Entrepreneur Award 2015, has raised 800 thousand euros, in a seed round led by Caixa Capital, with co-investor Change Partners. Exo-T is a biotechnology company dedicated to the pre-clinical and clinical development of innovative therapies for regenerative medicine.
Exo-Wound, the company’s lead product, is under development for the treatment of chronic wounds which affect more than 50 million patients worldwide. It is estimated that up to 70% of these patients may not respond to the treatment with products available in the market, which highlights a strong medical need and a high demand for innovative solutions to overcome this societal burden. The company demonstrated that Exo-Wound accelerates wound healing in animal models, and the product is currently under advanced development to reach clinical stage by 2019.
Joana Simões Correia, founder of Exo-T, declared that “This funding is crucial to continue the development of Exo-Wound, and we must acknowledge the leadership of Caixa Capital in raising this seed round executed with Change Partners as a co-investor. We now have conditions to take Exo-Wound one step closer to the clinical tests”.
Stephan Morais, Executive Director of Caixa Capital, stated that “We look forward to continue working with the Exo-T’s team to help bring this innovative solution to the millions of patients affected by chronic wounds”.
Pedro Pinheiro, Executive Director of Change Partners, mentioned that “This investment shows the trust Change Partners deposits in the R&D and IP generated in Portugal. We are very satisfied to support another COTEC project and to work with the team and Caixa Capital in Exo-T”.
Exo-T — www.exogenustherapeutics.com
Exo-T is a biotech company developing innovative therapies for regenerative medicine. The company is a spinoff from the Center for Neuroscience and Cell Biology of the University of Coimbra, with headquarters in Biocant Park, Cantanhede. Founded in 2015, Exo-T won COHiTEC 2014 and the ANJE Young Entrepreneur Award 2015.
Caixa Capital — www.caixacapital.pt
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 700 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
Change Partners — www.changepartners.pt
We are an independent Venture Capital firm, which plans to invest, taking risks and reaping the benefits, side by side with those who share the same values to achieve success: hard work, innovation, competence, ambition and business ethics.
We believe that the main agents of change are today’s entrepreneurs. The new generations of entrepreneurs have a special responsibility in upgrading Portugal’s positioning in Europe and worldwide. It takes new ideas to foster entrepreneurship, but is crucial to put them into practice before the others. Especially nowadays that we need not only to do well, but also to arrive in first place, to gain competitive advantage. We invest in people that have the ambition to be winners and fight for leadership. We will fund the projects of those who feel that what they did so far is still not comparable to what they can do in the future. Change Partners, SCR goal is to become a leader in the segment of independent operators in the Venture Capital industry in Portugal, and aims at being in the top 3 in terms of industry profitability.