InSphero AG, a Zurich, Switzerland-based provider of three-dimensional microtissue technology, received CHF2m in Series B financing.
The round – a mixture of equity capital and long-term loans – was led by unnamed existing and new investors.
The company intends to use the funds to grow in the US and East Asian (Japan, Korea and Singapore) market as well as to expand its automatic production line for tumor and liver microtissue models
Founded in 2009 by Dr Jan Lichtenberg, CEO, as a spin-off from the Swiss Federal Institute of Technology (ETH) Zurich and the University Zurich, InSphero provides organotypic, biological in vitro 3D microtissues for drug testing.
Customers currently include 7 of the top ten global pharmaceutical and cosmetics companies.