Finnish Linio Biotech secures €4.2 million for skin regeneration product, bringing total funding to over €9 million

Linio Biotech, a Helsinki-based biotech company, has secured €4.2 million in additional funding, bringing their total funding to over 9 million euros, to support the commercialization of their breakthrough product, Tience®. Tience® is an injectable tissue innovation intended for professional use, aiding in skin regeneration to address aging signs and visible scars. This funding will help expand Tience®’s availability from Finland to other Nordic countries, with plans for international market entry. The company’s investors include Finnish private investors, doctors, and family offices. Tience® treatments are already underway in multiple clinics, demonstrating promising results, and the company aims for further expansion and investor involvement in the future.

Linio Biotech is a spin-off from the University of Tampere by its founding partners Timo Ylikomi, professor of cell biology, and cell biologist and researcher Riina Uusmies. The Tience® products are manufactured in Tampere, Finland. Tience® was launched in Finland in June 2023 and is in the beginning of commercialization in other Nordic countries. In addition to the previous family offices and private investors, Linio Biotech’s investors will now include new Finnish private investors and doctors familiar with the industry. In the spring of 2023, the research-oriented Linio Biotech received a grant of almost one million euros from Business Finland for further development of its product.

“We have received very promising results with Tience®. With the new funding we can develop our innovation further and continue commercialization towards international markets. The first phase of the investment round was closed now in order for the company to maintain its ambitious roadmap regardless of the challenging situation in the investment climate,” Linio Biotech’s CEO and partner Karita Reijonsaari says.

Linio Biotech has reserved the opportunity to bring further investors into this funding round until next spring.

Tience® is a breakthrough innovation in an industry that rarely comes up with new inventions and where professionals are looking for treatments that offer natural, long-term results. “Linio is aiming for the global 40-billion-euro aesthetics and scar healing market (CAGR 12% 2021-2026). Within this market segment regenerative aesthetics is the fastest growing (22% CAGR) niche,” says Laura Vartiainen from Takoa Growth Oy, which was also involved in Linio’s first funding round. Vartiainen is the investors’ representative on Linio Biotech’s board.

“I’ve been following Linio Biotech’s journey closely for two years now, and it’s inspiring to join the internationalization of the excellent Tience® innovation. I have worked with fat and fat stem cells for a long time and I’m familiar with their power of regeneration,” says Linio’s new investor, plastic surgeon, and surgery specialist doctor Hilkka Peltoniemi.

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Originally published on ArcticStartup : Original article

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