NEWS
< back to news list

NanoGroup with 3 new sources of R&D funding

More than PLN 9 million – this is the total value of the financing that, under the agreement concluded between eCapital sp. z o.o. and NanoGroup S.A., the pending share issue and the investor offer received, may raise NanoGroup S.A. in the coming months. Funds from 3 different sources have, among other things. help a subsidiary of NanoGroup S.A., namely NANOSANGUIS S.A., to continue developing a system for the device and NanOX liquid for extracorporeal storage of organs for transplantation.

According to a news release from NanoGroup S.A. at the end of March 2024, the company entered into an investment agreement with eCapital sp. z o.o., controlled by Michal Lach – an entrepreneur known, among other things, for founding and developing such projects as K2 Internet, Audioteka, eTutor and DIKI. As the provisions of the agreement stipulate, eCapital may invest up to PLN 5.1 million, if the next development milestones of the project on which NANOSANGUIS S.A. is working are achieved. – a subsidiary of NanoGroup S.A.

NANOSANGUIS S.A. is developing the NanOX project, a proprietary device and fluid system for extracorporeal storage of organs for transplantation. The system consists of NanOX perfusion fluid and a specialized NanOX Recovery Box. In the course of development work, the company has so far reported among others. about the record-breaking length of time a pig kidney has been kept out of the body – for 147 hours, or more than six days. As emphasized by one of the leaders of the research team, Prof. Ph. n. med. Maciej Kosieradzki, President of the Board of Directors of the Polish Transplantation Society and head of the Department of General and Transplantation Surgery at the University Clinical Center of Warsaw Medical University, so far only 1 similar case of keeping a kidney out of the body for such a long time has been described in the literature, but it involved a kidney in a much better initial condition.

Preclinical studies on a large animal model (pig) are currently underway. The agreement with the investor, also indicates the next steps in the development of the project in the near future, i.e. until the end of 2025. and determines the amount of funding after the implementation of each of them These plans include:

– Performing at least one porcine kidney autotransplantation, confirming the effectiveness of the NanoOX system;

– Submission by NANOSANGUIS of a patent application for an invention developed under the NanOX project;

– Submission by NANOSANGUIS alone or jointly with others of an application for funding under the European Funds for a Modern Economy 2021 – 2027 program;

– conducting four consecutive successful porcine kidney autotransplants, confirming the effectiveness of the NanoOX system;

– Submission by NANOSANGUIS of an application for publication of a scientific article on NanOX liquid.

The agreement with eCapital Sp. z o.o. is not the only new source of financing for NanoGroup S.A.. The company also recently announced that it has received an offer of PLN 1.44 million from investors interested in acquiring L-series shares, as well as receiving an offer from an investor to take up new shares in 2 tranches of PLN 0.5 million each, with the second tranche contingent on NANOGANGUIS S.A. filing a patent application under the NanOX project.

– We have 3 independent actions: an open issue of L shares based on the resolution of the General Meeting of March 11, 2024, for a total amount of no more than PLN 3,699,490, an offer by one of the investors, independently of the ongoing issue of L shares, for an additional amount of PLN 1 million divided into two stages, and an investment agreement with eCapital Sp. z o.o. owned by Mr. Michał Lach, with a total investment of PLN 5.1 million,” explains Przemyslaw Mazurek, CEO of NanoGroup S.A.

– The funds raised during the implementation of the various provisions of the agreement will allow us to intensify our research and development work, in particular in the development of the project carried out by NANOSANGUIS, i.e. the NanOX system. They will also enable the intensification of industry partner acquisition activities. From the point of view of commercial operations, we rely on the activities of CET Advisors LTD – one of the most experienced and reputable advisors in the world. An extensive market scan is planned for 2024 and contacts will be made with a pool of interested parties. In the medium horizon, we also plan to obtain funding to bring the R&D work to the stage of Phase I clinical trials, under EU funding programs,” adds NanoGroup S.A.’s CEO.

This article was published in the Investor Zone.

Copyright © NanoGroup 2023

Prof. Tomasz Ciach

Founder, Member of the Management Board of NANOGROUP S.A.

Nanotechnology expert. Professor at the Faculty of Chemical and Processing Engineering, Warsaw University of Technology, head of the Biotechnology and Bioprocessing Division. Author of two technologies that are already in production stage, 12 granted patents and over 50 publications. Founder of BioMedLab research group, consultant in numerous companies (AstraZeneca, Procter and Gamble, Reckit, Adamed, Balton, Galmed). Work on various aspects of Biomedical Engineering, mostly on biomedical nanotechnology, active coatings for medical implants, nanoparticles for cancer treatment, biodegradable and nonbiodegradable implants, bone and vascular prosthesis. He gives rare, but already brilliant example of how brave ideas become socially and financially valuable.

Piotr Mierzejewski

Vice President of the Management Board of NANOGROUP S.A.

Clinical pharmacology specialist, former advisor to the Minister of Health on drug policy. He negotiated Poland’s accession to the EU in the field of pharmacy, responsible for the implementation of EU directives in the field of pharmacy into the Polish legal system. Co-founder of the Office for Registration of Medicinal Products, Medical Devices and Biocidal Products. Owner of a consulting company cooperating with international pharmaceutical companies in the field of introducing new technologies to the Polish market.

Przemysław Mazurek

President of the Management Board of NANOGROUP S.A.

Associated with the health market since 2004. As Managing Director, he restructured and developed the most dynamically operating Medical Center in the Podkarpacie region, creating and setting new standards of customer service quality on the market. Co-creator of the first solution in Poland for online registration of medical appointments. Co-founder of the first and only Infertility Treatment Clinic (MEDICOR) in Podkarpacie, which he headed as the President until 2009. He was responsible for the development of health insurance in the PZU Group. As Vice President of PZU Pomoc S.A. created the largest medical TPA in Poland to handle health insurance. Co-founder of the first drug insurance in Poland. Since 2015, he has been active in the field of Wealth Management and advises on management and finance. A graduate of International Economic and Political Relations as well as Management and Marketing at the Warsaw School of Economics.

Przemysław Mazurek

President of the Management Board of NANOGROUP S.A.

Associated with the health market since 2004. As Managing Director, he restructured and developed the most dynamically operating Medical Center in the Podkarpacie region, creating and setting new standards of customer service quality on the market. Co-creator of the first solution in Poland for online registration of medical appointments. Co-founder of the first and only Infertility Treatment Clinic (MEDICOR) in Podkarpacie, which he headed as the President until 2009. He was responsible for the development of health insurance in the PZU Group. As Vice President of PZU Pomoc S.A. created the largest medical TPA in Poland to handle health insurance. Co-founder of the first drug insurance in Poland. Since 2015, he has been active in the field of Wealth Management and advises on management and finance. A graduate of International Economic and Political Relations as well as Management and Marketing at the Warsaw School of Economics.