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‘Disruptive’ Manchester stem cell firm seals a £750k raise

WideCells, the University of Manchester-based stem cell treatment firm, has raised £750k in a private placing.

Based out of the University of Manchester Innovation Centre (UMIC), the medical technology firm provides a range of stem cell services which it claims will help to increase the number of diseases treatable with stem cells and widen the availability and affordability of treatment for patients across the world.

The publicly-listed company said it would use the funds to expand its three divisions: CellPlan, WideCells and WideAcademy.

The raise comes after WideCells was recognised as one of the world’s most disruptive companies in the world by Disrupt 100, an annual index which ranks promising companies based on their potential to disrupt their respective industries.

WideCells Group Chief Executive Joao Andrade, who co-founded the Company with Chief Operating Officer Lopes Gil, said that the raise would mark an ‘extremely exciting phase’ for the company.

He commented: “We are ideally positioned to build on our position as a key service provider and leading international innovator in the stem cell arena.

“Our commitment to innovation is highlighted through our recent ranking as the 21st most disruptive company globally by DISRUPT 100; I look forward to continuing in this vein, increasing revenue and rewarding shareholders for their support.”

The group, which currently employs 30 people across its Manchester, Lisbon and Brazilian bases, raised the lastest cash through the issue of 5,357,143 ordinary shares, which included new and existing backers and the board of directors.

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