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Bioceltix, Polish Biotech Startup, Secures €2.5m to Improve Veterinary Medicine

A woman in a lab holding a flask in a lab
Image credit: Canva
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Only have 1 minute? Here are 3 key takeaways:

  • Bioceltix, a biotech startup from Wrocław, Poland, has secured €2.5 M from the European Funds for a Modern Economy program and entered a co-financing agreement with the Polish Agency for Enterprise Development.
  • The company specializes in stem cell-based veterinary medicines, focusing on treating companion animals, particularly atopic dermatitis in dogs.
  • Bioceltix is initiating a €4 M independent clinical trial across 20 clinics in Hungary, Portugal, Ireland, and Poland to verify the safety and effectiveness of their developed product.

 

Bioceltix, a biotech startup located in Wrocław, Poland, has entered into a co-financing arrangement with the Polish Agency for Enterprise Development. It has secured approximately €2.53 million (PLN 11 million) in subsidies through the European Funds for a Modern Economy (FENG) program. The company is currently focused on developing a drug candidate for the treatment of atopic dermatitis in dogs, according to MamStartup.

Bioceltix develops stem cell-based medicinal products for veterinary use. Their primary focus is on implementing biopharmaceuticals based on allogeneic stem cells to serve the treatment of companion animals.

Bioceltix is ​​starting an independent, multicenter, and double-masked clinical trial, to verify the effectiveness and safety of the developed product. The research will be conducted in 20 clinics in Hungary, Portugal, Ireland, and Poland. The total value of qualified expenses in the project is approximately €4 million (PLN 17.5 million). 

Poland has had a particularly strong presence in the biotech sector in recent years. The Polish government is actively supporting the biotech sector with funding and grants. The European Funds for a Modern Economy program is dedicated to supporting Polish projects for the period 2021-2027. It is among the initiatives that offer financial assistance for research projects, technological advancements, and the market introduction of innovative products.

Read more:  The Biotech Innovators of CEE: Czech Company DIANA Biotechnologies and Its Quest to Accelerate Diagnostics and Drug Discovery

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https://therecursive.com/author/teodoraatanasova/

Teodora Atanasova is a News Editor at The Recursive. She covers everything around funding rounds, exits, startups expanding to international markets, big tech opening R&D in CEE, meaningful for the ecosystem partnerships.