PolTREG S.A.: Stock market debut and a breakthrough in the treatment of autoimmune diseases
PolTREG S.A. is a global pioneer in cell therapies based on regulatory T cells, known as TREGS therapy, which addresses unmet medical needs in the field of autoimmunology. This solution could represent a genuine breakthrough in the treatment of conditions such as type 1 diabetes and multiple sclerosis.
INNOventure – a fund in which Krakow Technology Park is a shareholder, established by representatives of Satus Venture and the KPT Seed Fund – was the first institutional investor to commit to investing in this project.
PolTREG is currently carrying out two main groups of research and development projects (for type 1 diabetes in children and multiple sclerosis), which serve as a platform for developing effective and innovative therapies for various autoimmune diseases, and is developing the Treg 2.0 platform project.
In practice, regulatory T-cell therapy involves artificially multiplying these cells and introducing them into the body of a person with type 1 diabetes. Following the infusion, they create an environment that protects the pancreatic islets from destruction. The pancreatic islet cells protected by TREGs can thus release insulin and alleviate the symptoms of diabetes and its complications. Groundbreaking research to date suggests that this therapy may be effective in minimising side effects.
“The two conditions we primarily deal with remain a huge challenge in medicine, and are in fact referred to as an ‘unmet medical need’. This term refers to the lack of effective treatment that can be offered to patients. In the case of type 1 diabetes, there are no drugs that halt the progression of the disease. The situation is slightly better for multiple sclerosis, where drugs already exist that improve the patient’s quality of life and slow down the disease. Unfortunately, the most effective ones are also the most toxic. Introducing TREGS therapy into treatment would allow for a more effective fight against both diseases. They belong to the so-called autoimmune disorders. In medicine, we have around 70–80 such diseases, and for most of them we lack effective drugs. “In theory, we could apply our therapy to each of these diseases, so the potential is enormous,” says Prof. Piotr Trzonkowski, MD, PhD, CEO of PolTREG.
PolTREG was established in 2015 as a spin-off from the Medical University of Gdańsk with the aim of continuing a research programme involving studies and clinical trials on type 1 diabetes in children. Clinical trials using TREGS lymphocytes in this condition began in 2010 and were conducted, amongst others, by the developers of the method, the company’s founders and major shareholders: Prof. Piotr Trzonkowski, MD, PhD, Prof. Małgorzata Myśliwiec, MD, PhD, and Prof. Natalia Marek-Trzonkowska, MD, PhD.
“Our participation in the financing of PolTREG during the company’s early stages of development is a prime example of how the BRIdge Alfa mechanism works. INNOventure has invested in a project that is a spin-off from the Medical University of Gdańsk. This funding served as a catalyst for securing significantly larger private funds for an ambitious and groundbreaking cell therapy project led by outstanding scientists,” says Marcin Bielówka, managing partner of the INNOventure fund.
On 23 November 2021, the company made its debut on the Warsaw Stock Exchange. The initial public offering of PolTREG S.A. comprises shares that will together constitute 35.76% of the company’s share capital and entitle holders to 32.38% of the votes at the General Meeting. The company’s valuation for the purposes of the public offering is nearly PLN 490 million.
“The IPO has, above all, placed the company in a very strong financial position to fund its further development – with a total of nearly PLN 150 million available in the form of cash on the balance sheet, proceeds from the public share issue and grants yet to be utilised, this provides the opportunity to conduct further clinical trials that will lead to the registration of the TREG therapy in Europe and the United States. It also provides the opportunity to fund development work on new therapies being developed by the company, as well as the construction of its own research and development centre and a new production laboratory for the commercial manufacture of TREGS preparations in Gdańsk,” comments Prof. Piotr Trzonkowski, MD, PhD, CEO of PolTREG.
The company is also developing its own research and development facilities, which could give it complete independence and freedom of operation. Work began this year on the creation of its own state-of-the-art laboratory, which is expected to become operational in the second quarter of 2022.
“The stock market debut of the first company in our portfolio is also a significant milestone for us. As a team, we have been incubating companies and providing them with early-stage funding for over 10 years. Often at a stage where they are not yet attractive to commercial investors. The vast majority of our companies, at a later stage of their development, have secured funding from private funds or have already been acquired by us. This is proof of our effectiveness. In the case of PolTREG, this is the first time funding has been raised through the public market, and directly on the main trading floor of the Warsaw Stock Exchange,” adds Marcin Bielówka.
You can read more about this groundbreaking solution in the medical industry on the website: https://poltreg.tech/