OREANDA-NEWS. November 12, 2010. The Estonian Development Fund has chosen to place a new venture capital investment into a stem cell technology development firm.

The investment into Cellin Technologies will be about 352,000 euros, a spokesperson for the Development Fund told.

The signing of the investment contract means that the Development Fund and a co-investor will acquire one-third of the company.

Cellin Technologies has developed a technology for accelerated growth of stem cells from human tissue or bone marrow. Since range of procedures in which stem cells can be used is currently limited, the company also sees potential in cosmetic medicine and regenerative medicine.

"What is impressive for us about them is that they have found a way to improve the state of the art," said the Development Fund's investments expert Indrek Kelder. "It usually takes a significant amount of time after isolating stem cells to produce a usable preparation, and if that amount of time can be shortened, it will create a clear competitive advantage."