Oct. 30th, 2021
In December 2015, we reported on our website that the INNOventure fund had become an investor in the newly founded, ambitious and promising PolTREG company, created as a spin-off of the Medical University of Gdansk, developing the use of T-regulatory lymphocytes in the treatment of type 1 diabetes. It turns out that we were not wrong in our assessment – both scientific and business-wise.
In September 2021, the U.S. Patent and Trademark Office announced that the founders of PolTREG S.A. were granted a patent entitled “Method for ex vivo expansion of regulatory T cells” (patent no. US 11,072,779). A number of advanced clinical trials for the treatment of diabetes and multiple sclerosis are planned for 2022. In the longer perspective, studies are planned on the use of the developed technology in the treatment of inflammatory bowel disease, rheumatoid arthritis and other conditions.
As far as the development of the company is concerned – its IPO is currently underway. 1,332,414 new issue shares are being offered. Five days ago subscriptions ended for shares for individual investors, who will take up 20%, and yesterday for institutional investors, to whom 80% of the shares are addressed. The share price in the IPO of PolTREG S.A. has been set at PLN 75. The total value of the public offering will amount to nearly PLN 100 million, and investors will acquire all shares of the new issue. The company will debut on the Warsaw Stock Exchange around November 23rd.
The raised funds will be used for further research and for construction of the company’s own research and development center and a new production center designed for commercial manufacturing of t-regulatory pharmaceuticals.