Progenitor Labs raises L4 million in seed funding

Regenerative medicine company Progenitor Labs Ltd. (Hertfordshire, U.K.) raised L4 million ($6 million) in seed funding from SR One, the venture arm of GlaxoSmithKline plc (LSE:GSK; NYSE:GSK). Progenitor is discovering small molecules that can regenerate body tissue, with a focus on osteoarthritis, multiple sclerosis and muscle regeneration. The company also will have access to support services from GSK in drug discovery and development, as well as the pharma's scientists. SR One's David Phillips and Matthew Foy will join Progenitor's board. ...