Liverpool and Wirral Stock Exchange was launched earlier this year by Liverpool and Wirral council s the local office of the London Social Stock Exchange. Tony McDonough reports
A Merseyside regional ‘social stock exchange’ set up the help social impact business raise investment funding has welcomed its latest member.
Videregen, a clinical stage regenerative medicine company developing personalised organ replacements, is looking for financial backers.
Liverpool and Wirral Stock Exchange (LWSSX) was launched earlier this year by Liverpool and Wirral council s the local office of the London Social Stock Exchange.
The aim of the exchange is to connect social impact businesses looking to raise capital to grow with socially-minded investors.
Videregen is seeking to attract significant investment through a network of impact investors and brokers, with the potential to float on the Social Stock Exchange.
It is the third member to join the LWSSX in the last quarter along with Rezatec, a geo-spatial data technology company and Acrobat Carbon Services, a funding partner to energy companies.
Founded in 2011, Videregen is based at Liverpool Science Park.
Its lead programme is a tissue engineered trachea replacement and its patented technology and know-how is also being applied to the development of other organ replacement products, including mucosal lining, small bowel and liver replacements.
Chief executive Steve Bloor said: “We are pleased to be joining the Social Stock Exchange, membership of which underlines the potential impact for both patients and healthcare systems of our portfolio of replacement organs for orphan diseases.
“It also aims to give Videregen access to an important new source of finance to enable us to make our products commercially available as soon as possible.”
Liverpool has a strong history of trading and had its own stock exchange and dedicated trading floor in operation from 1836 until 1965.
Debbie Ryan, executive director at the Social Stock Exchange, said: “We’re thrilled to welcome Videregen as one of our founding members, this is another milestone for LWSSX and demonstrates the growing demand for access to finance from impact businesses in the Liverpool city region.
“Impact investing offers a significant opportunity for Liverpool and Wirral.
“Not only it seeks to unlock capital for existing businesses and connect them with advisors, but it aims to drive inward investment into the region.”