Cambridge Angels help cell therapy pioneer raise £1.4m seed cash
Stevenage Bioscience Catalyst business MicrofluidX has raised £1.4 million in seed funding to develop novel cell therapy bioprocessing technology.
The backing comes from leading seed investors UK Innovation & Science Seed Fund (UKI2S), Longwall Ventures and Moulton Goodies Limited with angel contributions from 88 Capital and Cambridge Angels.
The company will develop its novel cell bioprocessing technology, utilising microfluidics to tackle the challenges associated with bioprocessing for cell and gene therapy.
MicrofluidX leverages the power of microfluidics to overcome the challenges of bioprocessing in the production of cell and gene therapies. Its novel technology facilitates process development by running dozens of cell culture conditions in parallel with precise process control and enables seamless scale-up to several billion cells for manufacturing at a fraction of the current costs.
The funding will enable the company to build a working prototype that can be used to generate comparative biological data between this new platform and conventional single-use technologies.
Antoine Espinet, founder and CEO of MicrofluidX, said: “We are thrilled to close this initial funding round with help from UKI2S. We are continuing to establish partnerships with Biotech and Pharma, on top of our existing partnerships with the Cell and Gene Therapy Catapult and the Centre for Process Innovation. The funding will be used to further develop our technology, as well as fund trials with our partners.”
Pablo Lubroth, Investment Manager at UKI2S, added, “There is a clear unmet need in cell and gene therapy manufacturing. The key issues such as cost-of-goods, batch variability and scalability can all be addressed using MicrofluidX technology.
“The downstream effects of solving these manufacturing problems will lead to cheaper advanced therapeutics and faster manufacturing timelines and in turn increase the adoption of these disease modifying and life changing therapies.”