InnoCyte Raises Six-Figure First Financing

Published On November 26, 2012 |

InnoCyte GmbH, a Stuttgart, Germany-based company that develops and markets devices for the automation of cell culture associated processes, has raised a six-figure first financing round.

Backers include High-Tech Gründerfonds (HTGF), the Mittelständische Beteiligungsgesellschaft (MBG) – within the framework of the Seedfonds Baden-Württemberg – and Fraunhofer Venture.

The company intends to use the capital to further advance the technology.

Founded in the summer of 2011 by by Roland Huchler, managing director, InnoCyte has developed technology that standardizes, automates, accelerates and therefore simplifies and reduces the cost of producing biological cells, a key process in biological and medical research, for example in the development of medication or when creating artificial tissue. Split.It, which will enter the market in the summer of 2013, is expected to allow the approximately 40,000 cell culture labs worldwide to handle the central routine process of passage with a fraction of the familiar effort.

FinSMEs

26/11/2012

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