Stories: EIC-funded company Idogen starts trading on Nasdaq First North Growth Market
Since 4 June 2020, the Swedish biotech company Idogen AB is traded on Nasdaq First North Growth Market. The traditional bell ringing was skipped due to the COVID-19 pandemic, but the event was featured on the Nasdaq trading floor at Times Square in New York. Idogen AB develops tolerogenic cell therapies to prevent the patient’s immune system from attacking biological agents, transplanted organs or the body’s own cells or tissues.
Idogen is developing completely new types of cell therapies that have the potential to improve the treatment of haemophilia A and reduce the risk of transplanted kidneys being rejected. Over the past year, the company has made significant advances in its unique cell therapy projects. A new combination of substances to produce tolerogenic dendritic cells has been established, and a patent application has been submitted, with potential market exclusivity until 2040.
In addition, a partnership has been initiated with Radboud University Medical Center in the Netherlands to establish a scalable manufacturing process that meets the requirements of Good Manufacturing Practice (GMP) prior to the start of clinical trials.
"The listing on Nasdaq First Growth Market is an external validation of the quality of Idogen's corporate governance, internal procedures and financial information, and increases the company's visibility on the capital market. Through this, we hope to attract even more long-term owners who see the potential in our unique cell therapy projects," said Idogen CEO Anders Karlsson.
Nasdaq First North Growth Market serves as a platform for growth, enabling Nordic and international companies to access capital to expand their businesses, raise investor visibility and prepare them for a Main Market listing. In connection with the listing, Idogen has appointed Erik Penser Bank as the Company's Certified Adviser.
"We are happy that we can announce that the company fulfils all Nasdaq's requirements. Nasdaq is a global well-known brand that enables increased visibility in the stock market and facilitates institutional and international investors to become shareholders in the company. I also want to take the opportunity to thank Spotlight Stock Market for our good cooperation over the years", added Anders Karlsson.
Idogen has previously been listed on the Spotlight Stock Market and the last day of trading was on 3 June 2020. The company has also received Phase 2 funding from the European Innovation Council and finished the project last month.