Spun out of University of Louisville, Koligo Therapeutics has already launched its first cell therapy product and aims to commercialise a treatment for covid-19.
Koligo Therapeutics, a US-based cell therapy developer aligned to University of Louisville, has been acquired by personalised drug producer Orgenesis for about $15m in stock.
The deal will consist of approximately 2.1 million common shares each priced at $7.00, and Orgenesis will also assume $1.3m of Koligo’s debt.
Launched in 2016, Koligo focuses on cell therapies for multiple diseases, using cellular samples extracted from the patient. Its cell-based treatment for pancreatitis, a condition where the pancreas becomes suddenly inflamed, is already available through six US hospitals.
A second product indicated for coronavirus-driven acute respiratory distress is awaiting permission for clinical development, and Koligo is also developing 3D bioprinter technology. Its founding team includes Stuart Williams, a professor in University of Louisville’s Department of Physiology.
In addition to University of Louisville, Koligo also counted Bergen Asset Management as an investor. It raised $2m of debt in March 2018 before adding $1.7m of equity funding earlier this month, according to regulatory filings.
Koligo filed for a A$6m ($4.3m) initial public offering on the Australian Securities Exchange in April 2019 but withdrew from the planned flotation having already dropped its pre-IPO valuation by a third.
