Finnish biotech startup StemSight, specializing in stem cell therapies for vision restoration, has secured €2.3 million in funding from Voima Ventures. The investment will support clinical trials focused on treating limbal stem cell deficiency (LSCD), a specific form of corneal blindness.
- Founded in 2021 by Heli Skottman and Laura Koivusalo, StemSight focuses on developing regenerative cell therapies for corneal blindness, specifically targeting limbal stem cell deficiency (LSCD) and corneal endothelial dystrophies.
- The company uses induced pluripotent stem (iPS) cells, which can differentiate into various cell types, combined with functional biomaterials to support tissue regeneration and improve cell therapy safety and delivery.
- StemSight’s therapies aim to address the loss of limbal stem cells in LSCD, a condition that impairs vision, often affecting younger individuals. They are also working on alternative sources of corneal endothelial cells to help combat the shortage of donor corneas.
Details of the deal
- The funding round was supported by Voima Ventures, a Nordic early-stage investor, which recently closed its €100 million Fund III to back 25 to 30 science and deep tech startups across the Nordic and Baltic regions.
"StemSight’s work on LSCD is just the start—this technology has the potential to transform vision care globally. We are proud to continue supporting their journey in pioneering solutions for patients worldwide," Life Sciences Investment Director at Voima Ventures, Stina Wallmark, commented in a press release.
- The round also saw investment from Finnish family offices Stephen Industries Inc. and Biothom Oy, private investors, and Business Finland.
- StemSight will use the €2.3 million to advance preclinical studies, expand R&D, and pilot manufacturing, moving the company closer to clinical trials for treating limbal stem cell deficiency (LSCD).
“We are grateful for the continued support of Voima Ventures in leading the round and very happy to welcome new investors on our journey to cure blindness. This funding shows that they believe in our vision for StemSight and the world-class team we have put together to bring that vision to life," explains Laura Koivusalo, CEO and Founder at StemSight.
