Milan, Italy (November 30, 2024)

Today, MgShell, a MedTech company that aspires to inspire a change in ophthalmology by developing a magnesium-based drug delivery platform capable of reshaping patient care and enhancing treatment adherence for patients suffering from retinal diseases, announced the commitments about its fundraising activity for closing a seed round to revolutionize ocular drug delivery.

To date, €600,000 in commitments have been secured under Letters of Intent from a diverse group of investors, including holding companies, business angels, pharmaceutical industry players, and renowned industry leaders.

In addition, over €250,000 has already been raised during the private phase of the campaign on Capital Cell, the world’s leading alternative investment platform for early-stage biotech and life science companies, leveraging the support of MgShell’s extensive network of stakeholders, which includes key figures in the pharmaceutical and biotech industries.

Key Investors Driving MgShell’s Vision Forward

We are proud to recognize the commitment of several prominent investors who are contributing to this important step in our fundraising journey. Among them are:

• Club degli Investitori, a respected business angel known for fostering disruptive innovations developed by highly-competent team of founders.
• Italian Angels for Biotech, a respected business angel known for fostering disruptive innovations in healthcare.
• Bios Line Holding, a strategic holding company focused on biotech and life sciences, owned by Paolo Tramonti.
• Andrea Giani MD, a worldwide distinguished retinal specialist and clinical/industry leader on innovative drug and device development in the retinal field, collaborating with key international opinion leaders.

These commitments highlight the confidence in MgShell’s potential to transform ocular drug delivery with its groundbreaking magnesium-based carrier, the first to demonstrate safety in animal ocular models.

Technical Leadership in the Round

A key milestone in this funding round has been the involvement of Andrea Giani MD, a technical leader in the pharmaceutical industry and former Global Head of Medicine for Retinal Health at Boehringer Ingelheim. His support not only brings significant financial resources but also valuable sector expertise that will help steer MgShell’s development toward regulatory, clinical development and market success. This collaboration underscores the growing recognition of MgShell’s technology as a game-changer in ocular drug delivery.

Finalizing the Capital Increase in Q1 2025

Our goal is to finalize this capital increase by the first quarter of 2025. These resources will enable MgShell to progress towards design freeze of the product, pre-clinical validation and first partnerships with pharmaceutical company, and further solidify its position as a pioneer in drug delivery innovation.

For more information or to join our network of supporters, please visit our campaign page.

About MgShell:

MgShell, headquartered in Milan, Italy, is a preclinical-stage drug delivery company focused on developing a magnesium-based drug delivery platform capable of reshaping patient care, enhancing treatment adherence for patients suffering from retinal diseases, and lowering healthcare expenses.