Toxys, a Leiden, The Netherlands-based biotech company, raised €2m in funding.
Backers included KIKK Capital, InnovationQuarter, Zeeland Investment fund, Toxys management and Rabobank.
The company intends to use the funds to expand its operations in Europe and the United States, to further broaden its portfolio of in vitro toxicology assays, speed-up international growth and work in acceptance and implementation of its toxicology assays for regulatory applications.
Led by Giel Hendriks, CEO, Toxys develops unique animal-free laboratory tests for the safety assessment of novel medicines, chemicals, cosmetics and food.
This investment is being made to advance Toxys’ expert mechanistic in vitro chemical safety testing services provide animal-free safety testing of novel medicines, chemicals and consumer products. The patented ToxTracker® assay can identify toxic and carcinogenic properties of novel pharmaceuticals, agrochemicals and fine chemicals already at an early stage of drug/product development. It is currently under review by the international authorities for official acceptance and inclusion of the test systems within the standard regulatory safety test strategy.