Member Article

£200k equity funding for Huddersfield tooth stem cell bank BioEden

Huddersfield-based BioEden, a tooth stem cell bank, reportedly the first in the world, has secured a second round of funding from Finance Yorkshire.

A £200k Equity Linked package takes the total invested in the business by Finance Yorkshire to £700k, and will enable BioEden to make significant investment in direct marketing and advertising.

The business, which has its world headquarters in Huddersfield, is the world’s first banking service for dental stem cells. It was founded in the USA in 2006 and expanded into Europe the following year.

BioEden chief executive Tony Veverka said: “Stem cell therapy isn’t a new concept; it has an established place in medicine and is constantly developing.

“Dental stem cells in particular have immense potential because they can change into other types of cells and may be used to treat conditions such as heart disease and Alzheimer’s.

“We believe in making this potentially life-saving service accessible for every parent, and this second round of funding from Finance Yorkshire is enabling us to ensure we have the infrastructure in place to implement our new pricing model.”

Specifically, the investment will be used to strengthen BioEden’s management team and its back office infrastructure, in addition to implementing significant marketing and branding activity.

Finance Yorkshire investment director Paul Gower said: “BioEden has so far been very successful in a number of global markets, particularly in Latin America.

“The funding from Finance Yorkshire, alongside investment from other investors, will enable the business to further raise its profile in the UK and the US.

“It is committed to engaging with families and children through its new BioKidz app, as well as building relationships with intermediaries such as private health insurers, schools and dental surgeries.

“The process by which the stem cells are extracted is patented by BioEden, so the business is in a very strong position to consolidate its position as the world leader in dental stem cell banking.

“We anticipate that the new Membership options will go a considerable way towards the ultimate aim of making stem cell therapy an affordable reality for everyone.”

To date, Finance Yorkshire has made 641 investments totalling £80 million.

Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15k to £2 million to help a range of small and medium sized businesses to meet their funding requirements for growth and development.

This was posted in Bdaily's Members' News section by Clare Burnett .