Stem cell life sciences business DefiniGEN has closed its £2.28m Series A financing round led by Cambridge Enterprise and 24 Haymarket.
Other new investors in the business through the round include Wren Capital and Ranworth Capital, with the money earmarked for supporting the international expansion of the business and commercial launch of new products.
The company focuses on serving the growing need in the pharmaceutical industry for more accurate predictions of efficacy and toxicity in drug candidates ahead of clinical trials.
24 Haymarket lead investor Marek Gumienny, who was formerly Chairman of Candover Partners, said, “DefiniGEN is a dynamic innovative company with a business model that can harness the huge potential of stem cell technology.
“Stem cells have the power to revolutionise healthcare, radically improve the efficiency and economics of drug development and enable personalised regenerative medicine to become a reality.”
DefiniGEN CEO Marcus Yeo said, “We are at an exciting inflexion point in the development of human induced pluripotent stem cell technology.
“The funds raised will allow the rapid development of libraries of human cells customised for genetic and ethnic profiles for drug discovery and regenerative applications.
“These advances are generating substantial interest from global pharma.”
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