Finnish biotech growth company Linio Biotech announced its new €4.2 million investment round, which brings the company’s total funding 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. 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.
“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 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,” commented Linio’s new investor, plastic surgeon, and surgery specialist doctor Hilkka Peltoniemi.
Linio Biotech’s innovation is an injectable tissue product called Tience® (from the words tissue science). The product is intended for professional use only and it helps skin naturally regenerate itself by accelerating the skin’s natural healing process.
Tience® treatment can be used to repair various skin defects, such as signs of aging or unwanted visible scars. The new funding will help Linio Biotech expand the availability of its Tience® product and treatments. Tience® was launched in Finland in June 2023 and is in the beginning of commercialization in other Nordic countries.
“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 added.
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 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. The Tience® products are manufactured in Tampere, Finland.
