FimmCyte, a pioneering women's health biotech, announces an investment of 1 million CHF as a convertible loan from the UZH Life Sciences Fund

BASEL, SWITZERLAND, February 28, 2024 /EINPresswire.com/ -- FimmCyte, a pioneering women's health biotech, announces an investment of 1 million CHF as a convertible loan from the UZH Life Sciences Fund (LSF).
FimmCyte is developing the first disease modifying treatment for endometriosis and the program is soon to advance into IND enabling activities. “We are thrilled to receive this investment from the UZH Life Science Fund, which recognizes the potential of our endometriosis treatment and the unmet medical need in women's health” said Mohaned Shilaih, CEO of FimmCyte. “This funding is a key steppingstone for FimmCyte as we fundraise for our Seed financing round with which we intend to advance our treatment into first in-human.” Valentina Vongrad, CSO, added.

“FimmCyte is a company with unique potential in women's health,” said Michio Painter, Board Secretary of the LSF and Head of the UZH Therapy Development Accelerator (TDA). “The team has demonstrated substantial progress over the last year in developing FimmCyte's novel approach for endometriosis and we are proud to support a company that could transform the standard of care for millions of women who have unduly suffered from a lack of innovation.”

FimmCyte is a spin-off company from the University of Zürich and the University Hospital Zürich, the Lab of Prof. Brigitte Leener, and was founded in 2022 by Dr. Valentina Vongrad and Dr. Mohaned Shilaih. The remarkable company development has garnered support from renowned funding institutions such as BaseLaunch, the Bio Innovation Institute, the USZ health innovation hub and non-dilutive funding from Innosuisse and the Gebert Rüf Foundation.

About the UZH Life Science Fund
The UZH Life Science Fund was established in 2016 to provide early financing to the most promising spinouts utilizing UZH intellectual property. As a partnership between the UZH foundation and the Novartis Venture Fund, the LSF aims to invest in 1-2 companies per year with up to 1 million CHF.

About FimmCyte
FimmCyte is a pre-clinical stage biotechnology company focusing on the development of novel treatments for women’s health and beyond. Through tailored biotechnological approaches, FimmCyte reprograms the immune system to modify the underlying target diseases. FimmCyte’s most advanced program is a non-hormonal disease modifying treatment for endometriosis, a disease affecting 1:10 women with significant unmet need. FimmCyte was founded in 2022 with offices in Basel, Switzerland and Copenhagen, Denmark.

Mohaned Shilaih
FimmCyte AG
ms@fimmcyte.com
Visit us on social media:
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.