Pluriomics, a Leiden, the Netherlands-based biotechnology company, raised €4m in Series A funding.
The round was led by Vesalius Biocapital (VBC) with participation from InnovationQuarter and Société régionale d’Investissement de Wallonie (SRIW).
The company intends to use the funds to further develop its stem cell derived cardiomyocytes and assays and to commercialize these technologies. Pluriomics will strengthen its R&D and commercial team in Leiden while setting-up a production facility in Gosselies, Belgium.
Led by Herman Spolders, co-founder and Chief Executive Officer, and Stefan Braam, co-founder and Chief Scientific Officer, Pluriomics is to launch its Pluricyte cardiomyocytes, which are human cardiac muscle cells for use in drug discovery & development. Pluricyte cell based assays will be used to detect potentially toxic side-effects of new medicines early in development with great accuracy.
“InnovationQuarter is very pleased to invest in a South Holland biotechnology company with products which are close to commercialization” says Gerty Holla, investment manager at InnovationQuarter. Francis Griep-Quint, Head of Investments at InnovationQuarter adds: “This investment enables growth and internationalization of the company through expansion of its R&D and commercial activities”
“We are very happy to welcome Pluriomics into our portfolio”.says Philippe Degive, investment manager at SRIW. “We wish the company great success and we will support the implementation of its manufacturing activity in Gosselies, in the heart of the cell therapy cluster in Wallonia”.
Alain Parthoens managing partner of VBC states “There is a real need for innovation to reduce attrition rates in the pharmaceutical drug development process and Pluriomics’ technology can be of great contribution towards that goal”.