Cell culture supernova raises $9m scale-up funding
Cell culture technology company CN Bio Innovations has raised $9 million to accelerate commercialisation in its key US market, fund expansion in Europe and scale its Cambridge headquarters.
The trailblazing UK business has developed organ-on-chip laboratory instruments to improve the accuracy and efficiency of drug discovery.
The investment was led by CITIC Securities Investment Co., Ltd., and supported by existing investor CN Innovations Holdings Ltd.
CN Bio says the injection of fresh capital will help drive sales of its products and services including the PhysioMimix™ platform. Simultaneously the company has announced the relocation and expansion of its headquarters to the Cambridge Science Park encompassing 4,000 sq ft of laboratory space.
CN Bio’s micro-physiological systems enable researchers to study drug metabolism, toxicology and specific disease models on single- and multi-organ systems.
Providing efficiencies for pre-clinical drug testing with predictive human tissue-based data, CN Bio’s OOC technologies are able to replicate the micro-environments, cell-cell interactions and biological processes that occur in vivo, to reliably bridge the gap between traditional cell culture assays and human studies, improving drug discovery while reducing research and development costs.
CEO Dr David Hughes said: “This investment will enable us to focus on the delivery of our business strategy and the company’s commercial growth, while ensuring that we remain at the forefront of the organ-on-chip technologies field. “We are delighted to have secured this investment from both new and existing investors, which reflects both the potential of our technology and products as well as the unrivalled experience and capabilities of our team.”
Hao Fang, CEO of CITIC Securities Investment Co., Ltd., said: “The organ-on-chip market is estimated to grow to $220m by 2025, at a CAGR of 39.9 per cent.
“Building on over 10 years of research and development of organ-on-chip technology, CN Bio is an exciting and promising investment. We look forward to the company’s future developments, poised to transform the process