AstraZeneca will develop novel cardiovascular and catheter-based therapies using Procella Therapeutics’ stem cell technology and Smartwise’s catheter injection method, it was disclosed today, through a collaboration that could generate up to $320 million-plus for the parent company of the pharma giant’s partners.

Procella and Smartwise are wholly owned subsidiaries of SWIB Holdings, which announced the collaboration. SWIB Holdings is the holding company of Swedish Innovation Bridge Company (SWIBCo), a biotech and medical device investment company based in Stockholm .

The companies have signed a strategic research collaboration and commercialization agreement launching the collaboration. It aims to use the SWIBCo companies’ technologies to help develop new stem cell–based therapies to repair parts of the heart that have been damaged by a heart attack.

The stem cell technology was developed at the Karolinska Institutet by Kenneth R. Chien , M.D., Ph.D., distinguished professor of the …