Histocell opens a new production plant and attracts foreign investors
Histocell has inaugurated its new production centre in Larrabetzu, dedicated to the manufacture of medical devices for regenerative medicine. The plant, which required an investment of 1.6 million euros and will initially generate 10 jobs and 30 additional jobs in the coming years, demonstrates the company's commitment to maintaining both its research and manufacturing activities in the Basque Country.
The new manufacturing plant joins the GMP clean room accredited by the Spanish Agency of Medicines and Medical Devices, which is located on the premises of the firm at the Science and Technology Park of Bizkaia in Derio, where Histocell will continue manufacturing its stem cell-based therapy drugs. These drugs are currently in clinical phase trials in several Spanish hospitals. Results from the first patients treated with these cell-based drugs are very promising.
In Larrabetzu, manufacturing will be focused on the line of products for the treatment of hard to heal wounds, Reoxcare, and on the dermocosmetics products, Wharton Gel Complex and Histoessence. Reoxcare is already being marketed in Europe, America, Asia and the Middle East through different distribution agreements, and Osakidetza, the Basque Health Service, is one of Reoxcare’s customers. Rexocare is an innovative wound dressing, unique in the international market, which is produced with materials from natural origin. It has clearly demonstrated its differential value in the healing of complex wounds where other conventional treatments have failed. In the new plant in Larrabetzu, Histocell foresees an annual production of 100,000 units of the dressings, 400 kilograms of the cosmetic ingredient Wharton Gel Complex, and up to 200,000 vials of Histoessence. In total, the company estimates that the products manufactured in the new facilities will reach sales of 6 million euros in 2021.
Capital increase with a Japanese investment fund
The inauguration is not the only business milestone reached by the biopharmaceutical company this year. The company has also significantly increased its capital as the result of the entry of the Japanese investment fund Cell Innovation Partners that specializes in regenerative medicine and cell therapy and whose main partners are the Japanese company Reprocell and bank Shinsei. This is the first investment of this fund in a biopharmaceutical company in Spain. In this financing round, the main current partners of Histocell have also participated.
#Healcare biotech: #Basque Country;