QGel, a Lausanne, Switzerland-based biomaterials company with advanced solutions for pharmaceutical drug discovery, closed a $12m financing round.
The backers were not disclosed.
The company intends to use the funds to accelerate global expansion to service clients internationally, and broaden its existing line of products.
Co-founded in 2009 by Matthias Lütolf and CEO Colin Sanctuary, QGel develops and commercializes synthetic gels for 3D in vitro growth of miniature human organs (organoids) and tumors (tumoroids) that mimic original organs and tumors in certain structure and functions. The company’s technology allows scientists to test new drugs on patient tissues.
It currently commercializes 3D in vitro disease models for many different cancer types including brain, breast, colon, kidney, lung, ovarian, pancreas, placenta, prostate and skin cancers.