#Canada #Montreal #regenerative medicine #Morphocell Technologies #organ replacement

Morphocell Technologies Secures $50 Million in Series A Financing

Morphocell Technologies Inc., a groundbreaking biotechnology firm, recently celebrated a significant milestone by completing a US$50 million Series A financing round. This funding includes a recent US$10 million add-on led by Investissement Québec and CDP Venture Capital, highlighting the strong confidence investors have in Morphocell's potential to revolutionize tissue therapeutics for organ replacement, particularly for liver disease.

A Strategic Financial Move

The Series A financing commenced with a US$40 million round concluded in February 2024, led by Genson Capital. The latest funding marks an important achievement for Morphocell, extending its financial runway to over three years. This funding extension signals a powerful endorsement of the company's vision and operational strategy.

Dr. Massimiliano Paganelli, the CEO and co-founder, expressed enthusiasm about this investment as it validates the transformative potential of Morphocell’s innovative therapies for patients suffering from liver conditions. The strong backing from institutional investors with mission-driven mandates showcases the expected global impact of Morphocell’s advanced tissue-engineered products.

Growth and Expansion

Since the initial financing, Morphocell has expanded its workforce to 44 employees in its headquarters in the Greater Montréal area, as well as offices in Cambridge (Boston) and Toronto. The company's integrated approach includes discovery, cell manufacturing, and preclinical development, demonstrating a committed focus on excellence within regenerative medicine.

Investissement Québec's re-engagement through its new Fonds Impulsion emphasizes the growing life sciences industry in Québec, which is showcasing local talent and driving innovation across health challenges globally. Bicha Ngo, President of Investissement Québec, expressed pride in supporting Morphocell's ambitions to emerge as a leader in generating innovative healthcare solutions.

CDP Venture Capital’s involvement represents a strategic foray for them into the Canadian biotech landscape, further establishing connections between Italy’s robust talent pool and global innovation ecosystems. The investment will enable Morphocell to set up its first European subsidiary in Italy, emphasizing the company’s commitment to integrating with Italy's dynamic biotechnology framework.

A Vision for Regenerative Medicine

The newly acquired US$50 million in funding places Morphocell among Canada’s most well-funded companies in regenerative medicine. This investment will accelerate the advancement of its lead program, ReLiver®, towards clinical proof-of-concept. It will also enhance manufacturing capabilities and attract top-tier experts to the team, reinforcing connections with global collaborators and preparing for future financing opportunities.

Located in Québec, Morphocell plans to leverage its strong geographic presence while establishing a new subsidiary in Italy. This strategic move not only aligns with the company's Italian roots but also enhances its European outreach, facilitating partnerships with leading talents and access to advanced research facilities as it positions itself as a global frontrunner in regenerative solutions.

Morphocell Technologies aims to transform the treatment of severe organ dysfunctions, seeking to create revolutionary cell-based therapeutic alternatives to traditional organ replacement. Dr. Paganelli reiterated the collective vision in developing effective therapies that can significantly alter the lives of patients affected by liver disease and other organ dysfunctions.

In support of Morphocell's mission, Christine Fréchette, Quebec's Minister of Economy, Innovation, and Energy, acknowledged the importance of nurturing a robust ecosystem for businesses to thrive and facilitate innovation within the healthcare sector.

About Morphocell Technologies

Founded in 2018, Morphocell Technologies is a Montreal-based firm specializing in the development of stem cell-derived tissue and organ replacement therapies. With a focus on treating serious organ failures, particularly liver disease, Morphocell combines scientific excellence and clinical expertise to usher in next-generation regenerative therapies, harnessing iPSC-derived platforms to address pressing health issues globally.

For further information, please visit Morphocell Technologies.