A publicly traded biotechnology company developing veterinary medicines for companion animals is working with contracted subcontractors to build a large-scale stem cell facility, which will be one of the largest of its kind in the world.
The investment is covered by a conditional grant from the Polish Agency for Enterprise Development (PARP), which delays the availability of funds from this source. Therefore, financing subsequent stages of construction and equipment purchases, as well as further operational development, will require additional financing.
The company plans to issue new shares, representing up to 8.51% of the increased capital. Bioceltix’s plans will be voted on at the Extraordinary General Meeting, which has been convened for October 9th.
Wrocław, September 12, 2025 – Bioceltix intends to increase its capital to finance the construction and launch of a new stem cell facility through the issuance of up to 457,785 shares. The company has entered into an investment agreement with Alternative Solution ASI and Kvarko Group ASI, under which these major shareholders will offer up to 457,785 of their existing shares admitted to trading on the Warsaw Stock Exchange (GPW) for sale to investors through a public offering. The proceeds will then be used to purchase the same number of new shares at the same price per share as they would receive in the public offering conducted through an accelerated bookbuilding (ABB) process. The agreement also provides for the option for Alternative Solution ASI to sell an additional 120,000 existing ABB shares without committing to a capital increase in the company, with the priority being to raise funds for the new issue. The investment agreement also stipulates the intention to set the minimum price at PLN 95.00. The General Meeting of Shareholders, at which resolutions regarding the new issue will be voted on, has been convened for October 9th. The offering will be conducted through investment firms selected by the company and the aforementioned shareholders. The company’s financial and IR advisor is ccgroup.
“The purpose of the transaction is to ensure continued financing for the construction of a large-scale stem cell production facility and to cover operating expenses in the period leading up to production launch and validation. The new facility will also be co-financed by a grant awarded by the Polish Agency for Enterprise Development (PARP) under the FENG program, which has a net budget of PLN 50 million, of which PLN 17.35 million will be subsidized. Contrary to our earlier assumptions and the analyses prepared by our advisors upon the announcement of the FENG program, the grant agreement signed in July 2025 assumes that this funding is conditional,” says Dr. Paweł Wielgus, Eng., member of the Bioceltix Management Board.
The new facility will ensure the production of targeted volumes of the company’s medicinal products, intended for international sale under a production-licensing model. Ultimately, the funds raised will enable the commercialization of Bioceltix’s flagship projects: two for dogs—for osteoarthritis and atopic dermatitis—and a third for horses suffering from lameness. Currently, production of drugs based on mesenchymal stem cell technology is taking place in its own small-scale facility, which meets the highest pharmaceutical standards confirmed by GMP certificates. This allows the company to produce stem cells for R&D and clinical trials. The new facility will multiply the maximum production levels available. It will also include the entire analytical facilities and the full production cycle of the proprietary ALLO-BCLX technology, from stem cell isolation through proliferation and cryopreservation, to automated product dose packaging and storage.
Paweł Wielgus, a member of the Bioceltix Management Board, emphasizes that the company is at a very dynamic stage of development, and clinical trials of innovative products have been very successful.
“Registration procedures for our drugs with the EMA are ongoing, and we expect the first recommendation in the first half of 2026. At the beginning of this year, new Good Manufacturing Practice regulations, which we had to implement at our current plant, created a significant amount of additional work. We accepted the plant space in the summer, and last week we signed an agreement specifying the investment substitution, giving the project a very concrete shape. We are currently designing very detailed solutions for the new plant, and at this stage, new budget items and updated estimates are being added to the budget. Although we have been awarded public support, the final terms of the agreement place a significant risk on the company’s side. Obtaining subsequent grant installments will take significantly longer than we anticipated when applying for the grant.” The experience we have already gained in this industry teaches humility, so we have decided that to achieve success in our bold undertaking, we need a greater margin of time and financial resources. The funds acquired will be used to finance the entire project, up to the launch of commercial production. Additionally, a solid balance sheet position will provide comfortable discussions with partners and a better negotiating position. Of course, this plan is preliminary and still requires approval by the general meeting of shareholders, which will be held in October. Planning and building a pharmaceutical plant is a major project, but the benefits will be even greater. Today, at maximum capacity, we can produce up to 30,000 doses per year. This will be sufficient to begin commercial sales after the product is authorized for marketing on the European market, even before full-scale production begins at the new facility,” comments Paweł Wielgus.
Bioceltix is a biotechnology company developing modern medicinal products for companion animals, with a particular focus on dogs and horses. The company is developing a proprietary technology for the production of biological drugs based on mesenchymal stem cells. The breakthrough approach of Bioceltix involves the use of a method enabling the administration of stem cells from a small number of healthy donors to a large number of patients—an allogeneic model. Medicinal products developed in this way will be readily available, on-site at the veterinary clinic, and ready for administration to the patient immediately after thawing. Biologics developed at Bioceltix have the potential to—in addition to their symptomatic effects—also demonstrate causal effects by influencing the inflammatory environment and triggering natural mechanisms for the regeneration of diseased tissues.