Vitrolife AB (publ) has collaborated with the Stockholm-based Biolamina AB within the stem-cell field since 2012. The companies have now decided to increase their collaboration and, as part of this greater collaboration, Vitrolife has invested in Biolamina together with the company’s present owners.
Vitrolife AB (publ) has collaborated with the Stockholm-based Biolamina AB within the stem-cell field since 2012. During spring the collaboration resulted in the launch of a new freeze medium for stem cells, FREEZEstem™, which has been developed and produced by Vitrolife and is now marketed globally by Biolamina.
The companies have now decided to increase their collaboration and as part of this increased collaboration Vitrolife has invested SEK 4 million in Biolamina in a directed new share issue, which gives Vitrolife a 4.6% participation in the company. Vitrolife takes possession of the shares in Biolamina as soon as the share issue has been registered at the Swedish Companies Registration Office. The investment is financed through Vitrolife’s cash reserves. Vitrolife will also be represented on the company’s Board in the future.
“It is primarily researchers that today buy products to cultivate stem cells and in a short period of time Biolamina has built up efficient marketing and distribution channels aimed at these customers,” says Vitrolife’s CEO, Thomas Axelsson. “The knowledge and infrastructure that underly Vitrolife’s success in the fertility area are highly applicable to the stem-cell field as well, at the same time as research into stem cells gives us knowledge to be able to improve future fertility treatments.”
“We are pleased to be able to increase the collaboration between Vitrolife and Biolamina and look forward to being able to access Vitrolife’s knowledge, resources and network,” says Kristian Tryggvason, Biolamina’s CEO.
Biolamina commercializes innovations based on human recombinant proteins called laminins, which solve the technical problems involved in the culture of embryonic stem cells. By coating surfaces used for cell culture with recombinant laminins, the natural environment in the body where these cells grow is mimicked, and consequently the cells thrive and retain their function. These innovations solve earlier problems of reliability and low cell quality, and enable clinical development of new cell therapies. Biolamina reported revenue of approximately SEK 7 million during the financial year 2012/2013. For more information, see www.biolamina.com
November 13, 2013
VITROLIFE AB (publ)
Thomas Axelsson, CEO
Queries should be addressed to:
Thomas Axelsson, CEO, tel 46 31 721 80 01
Mikael Engblom, CFO, tel 46 31 721 80 14
Vitrolife is required to publish the information in this press release in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on November 13, 2013 at 08:30 a.m.
This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.