BIRKERØD, Denmark--(BUSINESS WIRE)--Reapplix today announced that it has successfully closed a new funding round of €2.7 million. This new funding was provided by the existing investors, SEED Capital Denmark, Novo Seeds and Vækstfonden (The Danish Growth Fund).
The new funding will be used to provide continuing forward momentum to the final stages of pre-revenue value creation through to 2018, when Reapplix intends to raise further growth capital in order to undertake the full commercial launch of its lead product, LeucoPatch®.
Graeme Brookes, Chief Executive Officer at Reapplix, commented on the news: “Having completed the product development and obtained regulatory clearance in both Europe and USA, we are now awaiting the completion in 2017 of our large scale randomized controlled trial, which will be key to gaining reimbursement. This new funding allows us to continue to invest in clinical evidence and in parallel accelerate our work building commercial proof of principle and extensive user traction in selected markets”
- Notes to editors -
Reapplix have developed a unique device technology for tissue regeneration, which is currently being focused on wound care. In Europe, this technology is known as the LeucoPatch® System and is undergoing both clinical evaluation and commercial market testing. In the LeucoPatch® System, blood is collected from the patient in a single use LeucoPatch® Device, which is a precision engineered mini cell processor. The LeucoPatch® Device, in combination with the LeucoPatch 3CP™ Centrifuge, uses the patent protected 3CP™ Technology to produce each autologous LeucoPatch® on demand using a simple to use process, with no reagents, which fits in well with existing clinical work flow.