Tuesday, February 27, 2024
HomeFunding Helsinki-based Linio Biotech Secures €4.2 Million in Funding

[Funding alert] Helsinki-based Linio Biotech Secures €4.2 Million in Funding

Helsinki-based Linio Biotech secures €4.2 million in funding which brings the company’s total funding to over €9 million. New Finnish private investors and medical professionals with experience in the industry will join the existing family offices and private investors as Linio Biotech's investors.

Helsinki-based Linio Biotech secures €4.2 million in funding which brings the company’s total funding to over €9 million. New Finnish private investors and medical professionals with experience in the industry will join the existing family offices and private investors as Linio Biotech’s investors.

The research-focused Linio Biotech received a nearly one million euro grant by Business Finland in the spring of 2023 to further develop its product.

Read also – Visual AI Company SeeChange Technologies Secures £8M in Series A Round Funding

Laura Vartiainen from Takoa Growth Oy said, “Linio is aiming for the global 40-billion-euro aesthetics and scar healing market (CAGR 12% 2021-2026). Within this market segment regenerative aesthetics is the fastest growing (22% CAGR) niche, which was also involved in Linio’s first funding round. Vartiainen is the investors’ representative on Linio Biotech’s board”.

Tience®, an injectable tissue product (derived from the terms tissue science), is Linio Biotech’s creation. The product, which is intended solely to be utilised by professionals, speeds up the skin’s natural healing process, aiding in skin regeneration.

Linio Biotech’s CEO and partner Karita Reijonsaari said, “We have received very promising results with Tience®. With the new funding we can develop our innovation further and continue commercialization towards international markets. The first phase of the investment round was closed now in order for the company to maintain its ambitious roadmap regardless of the challenging situation in the investment climate,”.

Read also – Floreon Secures £2M Series A in Funding

Linio Biotech is postponing adding more investors to this investment round until the spring of next year. In a field where fresh ideas are rare and where experts are looking for treatments that offer long-term, natural benefits, Tience® is a game-changer.

About Linio Biotech

In 2017, Timo Ylikomi, a professor of cell biology at the University of Tampere, and cell biologist and scientist Riina Uusmies created Linio Biotech as a spin-off. The manufacturing site for Tience® products is situated in Tampere, Finland.

Read also – London-based TRIVER Secures further €22.9 Million in Funding

For millions of people, skin abnormalities can be an important physical and social impairment that severely lowers quality of life. At Linio Biotech, our unique and innovative cell-free tissue technology is revolutionising skin regeneration.

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