ONGENO Secures €3.5 Million to Advance MS Stem Cell Trials

  • ONGENO, a Polish medtech startup, has secured €3.5 million in funding to complete its medical trials for a stem cell-based therapy for multiple sclerosis (MS).
  • The funding will support the company’s validation phase for the stem cell separation process, aiming for completion by the end of 2025.

ONGENO, a Polish medtech startup, has secured €3.5 million in fresh funding to continue its medical trials aimed at treating multiple sclerosis (MS) with a novel stem cell therapy. The financing was provided through the issuance of 100 new shares, each priced at €35,500, bringing the company’s valuation to €70.5 million. The identity of the investors has not been disclosed.

The funds will be used to complete the validation stage of ONGENO’s stem cell separation process. This therapy, developed by Dr. Wojciech Orlowski, M.D., has already shown promising results in its first phase, with patients experiencing significant improvements in health, reduced disability, and halting of disease progression. ONGENO’s treatment involves extracting bone marrow from patients, purifying it according to its proprietary protocol, and intravenously administering the stem cell composition.

“We already have nearly 10 years of study data from patients in the previous phase of the trial, and they have experienced tremendous and lasting improvements in their health,” said Pawel Kowalik, CEO of ONGENO. “The remission is so significant that it allows them to return to normal life and work activities, meaning we can speak of almost complete recovery for patients undergoing the therapy.”

The company is now focused on completing the validation phase of the treatment by the end of 2025. With no reported complications or side effects from the treatment to date.

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