Procella Therapeutics and Smartwise entered the strategic research collaboration and commercialization agreement with AstraZeneca to develop novel stem cell-based therapies for heart failure and novel vascular injection techniques.
In patients who have suffered from a heart attack, a large portion of heart cells die, which may cause heart failure and significant mortality and morbidity. The aim of the collaboration is to develop new ways of regenerating parts of the heart muscle that have been damaged by a heart attack, using Procella Therapeutics’ stem cell technology, as well as novel catheter injection methods, using Smartwise’s Extroducer catheter.
The Extroducer catheter was developed at the Karolinska Institutet (Sweden) for potential uses in cancer treatment and tissue repair in various organs and was subsequently coated with Bactiguard technology. Both Procella and Smartwise are SWIB Holding (SWIBCo) subsidiaries.
AstraZeneca will pay an undisclosed upfront access fee and fund the research collaboration. SWIBCo has the potential to receive up to $320 million in clinical development milestones and sales-related commercial threshold payments, once the products have been commercialized.
SWIB Holdings, Swedish Innovation Bridge Company (SWIBCo), is a biotech and medical device investment company based in Stockholm, Sweden.