The Wroclaw startup Bioceltix successfully debuted on New Connect
- Bioceltix: stem cells for animal treatment
- A successful debut on New Connect and the company’s value grows from 67 to 120 million PLN
- Bioceltix will offer biological drugs for atopic dermatitis in dogs in 2024
They announced that they would do it and kept their word. In November this year. The Wroclaw-based Bioceltix, the first biotechnology company with a veterinary profile, made its debut on the New Connect market. The Wroclaw-based company Bioceltix, develops biological drugs for animals and the presence on the stock exchange is the next stage in their business development. What they do has already been appreciated by investors.
In recent months, the value of the company was estimated at 67 million PLN, but on the debut day, the valuation reached nearly 120 million PLN. The largest shareholders of Bioceltix include Infini ASI (15.2% of shares) and Kvarko Group ASI (14.3% of shares).
The Wroclaw startup Bioceltix made its debut on New Connect
The biotechnology company’s long-term plans are clear: in a few years’ time, Bioceltix will own and manufacture several products for the treatment of the most common diseases in companion animals.
In animals, as in humans, there is a marked increase in the number of patients suffering from inflammatory and autoimmune diseases – already 20% of dogs suffer from degenerative joint changes, which are the main cause of chronic pain, while 15% of the dog population suffer from due to atopic dermatitis. Biological medicines based on stem cells can play a key role here. – Łukasz Bzdzion, president and co-founder of Bioceltix.
Bioceltix: Treatment of Osteoarthritis in Dogs
A few days ago, the company announced that it had signed a contract with an international CRO (Clinical Research Organization) company for the comprehensive implementation of a clinical trial for a drug used in the treatment of degenerative joint lesions in dogs. This choice is not accidental, as the same company was involved in the development and approval of the world’s first veterinary medicinal product based on stem cells.
Bioceltix: biological medicines for animals
The president of the Wroclaw-based company emphasizes that in veterinary medicine the most common method of treating inflammatory and autoimmune diseases is symptomatic treatment with classic chemical drugs. The nascent veterinary biotechnology has a chance to change this situation and provide new medicinal products and technologies, increasing the effectiveness of treatment and reducing the incidence of side effects, or – as is the case with stem cells – providing a chance for causal treatment.
Startup Bioceltix: modern biotechnology in veterinary medicine
According to Paweł Wielgus from Bioceltix, large concerns are not able to supplement their portfolio with biotechnological products on their own, because they do not have the appropriate experience and are not able to quickly catch up with technological and infrastructural backlogs. The production of biological drugs is much more difficult than that of classic chemical drugs. Hence, smaller companies specializing in biotechnology are quickly attracting the attention of big players.
There is an opportunity on the market for companies such as Bioceltix, which build their competences and scientific background from the very beginning only in the field of veterinary biotechnology. Large corporations are looking at such companies because it is easier for them to acquire a ready-made technology from the outside than trying to create it from scratch without proper experience. – dr inż. Paweł Wielgus, Bioceltix.
Bioceltix: ALLO-BCLX technology
Bioceltix develops its products based on the proprietary ALLO-BCLX technology that uses allogeneic (i.e. administered between different individuals of the same species) mesenchymal stem cells. In July this year the company received a Good Manufacturing Practice (GMP) certificate for cell therapies in veterinary medicine from the Main Pharmaceutical Inspectorate. The company is currently working on three drug candidates – two for dogs and one for horses.
