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NEWS December 4, 2019

iCellate Medical raises SEK 23 million in oversubscribed new issue

iCellate Medical has today completed another successful new share issue in collaboration with advisors at Southwik. The oversubscribed share issue, which brings the company just over SEK 23 million, attracted capital from both existing and new shareholders. iCellate’s vision is to detect cancer early, when it can still be cured, and to guide individual therapies.

iCellate, a privately owned Swedish medical technology company, is an innovation leader in cancer diagnostics and precision medicine through the analysis of tumor cells or cell fragments from blood samples, so-called blood biopsies.

– We are really pleased that our existing owners are showing continuous support and that we can attract such great new investors. We are convinced that 2020 will be a very exciting year, says Pelle Redare, CEO of iCellate.

The extra funds will be used to commercially validate the company’s services, which will be launched in early 2020.

iCellate was founded in 2011 as a spinoff from research conducted at Karolinska Institutet and Karolinska Hospital. The company has its office and laboratory in Hagalund in Stockholm, where it performs its services.

iCellate uses circulating tumor cells (CTC) and cell fragments, circulating tumor DNA (ctDNA) to help doctors detect and analyze cancer at various stages of the disease. Cancer spreads from a primary tumor to various parts of the body through CTCs, which migrate out into the lymphatic and blood circulation system, where they can be detected using iCellate’s proprietary technology.

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