Axiogenesis, a Cologne, Germany-based provider of stem cell-derived cells, raised a major investment of undisclosed amount.
The investment was made by Sino-German High-Tech Fund, an investment fund jointly supported by Donghai Securities from China and High-Tech Gründerfonds from Germany. SGHF will gain over 10% of ownership through this capital increase.
The company will use the funds to further expand product development, strengthen its disease modeling capabilities and increase market presence.
Founded in 2001, Axiogenesis focuses on the development and validation of functional assays using neuronal and cardiac cells. The company, which has a product portfolio including several validated induced pluripotent stem cell (iPSC) derived cardiac and neural cell types, is to launch smooth muscle cells, beta-islet cells, sensory neurons and several new variants of the Cor.4U cardiac product in 2016.
The company will also expand its customer facing team with more scientific support staff, application specialists and customer representatives in USA, EU and Japan and new opening new markets in China and Israel.