CellTran raises

CellTran, a Sheffield-based wound-care company and part of the Biofusion portfolio, has raised £2.7m in a private funding round.

The proceeds will be used by CellTran in three areas: to continue development of its innovative surface chemistry and tissue-engineering technologies with a focus on wound-care products; to progress its lead product Myskin through clinical trials in which it is being evaluated as a potential treatment for diabetic foot ulcers; and to expand its sales and marketing efforts of Myskin as a treatment for chronic wounds and burns.

Biofusion was established in 2002 to commercialise university-generated IP. Following the fundraising, it is the largest shareholder in CellTran - a spin out from Sheffield University - with a shareholding of 26.8%. The fundraising syndicate was led by new investor the YFM Group and included existing investors Biofusion and White Rose Seedcorn Fund, along with another new investor, Partnerships UK.

Two key components underpin CellTran's technology: the culture of a patient's own cells for treatment of their wounds; and the development of novel transfer materials on which specific cell types may be cultured. This technology is proprietary, scaleable and transferable.

Myskin was launched into the UK burns market in April 2004 by CellTran's UK distribution partner, Vernon Carus. Patients with severe burns have already been treated with this product and promising results have been achieved treating non-healing wounds in recently completed proof-of-concept trials. CellTran is currently running a randomised, controlled, multi-centre trial in diabetic foot ulcers.

Mal Jarmolowicz, ceo of CellTran, expects the fundraising will bring the company into profitability. 'We believe our revolutionary product, which uses a patient's own cells to treat their difficult-to-heal skin wounds, can become an extremely effective part of long-term wound management leading to wound healing,' he said. 'This represents an attractive market opportunity.'