Finnish female-founded biotech company Linio Biotech has raised a €4.2 million investment. This round brings the total funding raised by the company to over €9 million.
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. Earlier this year, Linio Biotech received a grant of almost €1 million from Business Finland for further development of its product.
The new funding will help Linio Biotech expand the availability of its Tience® product and treatments. Manufactured in Tampere, Finland, the product was launched in the country in June 2023. Furthermore, the company is at the beginning of commercialisation in other Nordic countries. It is also in plans to bring further investors into this funding round until next spring.
Tissue regeneration made simple and accessible
Linio Biotech was founded in 2017 as 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. Linio Biotech’s innovation is an injectable tissue product called Tience®.
Tience® treatment can be used to repair various skin defects, such as signs of aging or unwanted visible scars. The product is intended for professional use only and it helps skin naturally regenerate itself by accelerating the skin’s natural healing process.
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,” said 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 internationalisation 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,” commented Linio’s new investor, plastic surgeon, and surgery specialist doctor Hilkka Peltoniemi.
“We have received very promising results with Tience®. With the new funding we can develop our innovation further and continue commercialisation 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 added.
