CN Bio Innovations, a Cambridge, England, UK-based cell culture company that has developed organ-on-chip laboratory instruments to improve the accuracy and efficiency of drug discovery, raised $9m USD (circa £6.9m GBP) in funding.
The round was led by CITIC Securities Investment Co., Ltd., and supported by existing investor CN Innovations Holdings Ltd.
The company intends to use the funds for commercial development and strengthen its position in its key market, the US, whilst also expanding operations across Europe and drive sales of products and services including the PhysioMimix™ platform.
Led by Dr David Hughes, CEO, CN Bio provides micro-physiological systems that enable researchers to study drug metabolism, toxicology and specific disease models on single- and multi-organ systems. Providing efficiencies for pre-clinical drug testing with predictive human tissue-based data, the company’s technologies are able to replicate the micro-environments, cell-cell interactions and biological processes that occur in vivo, to bridge the gap between traditional cell culture assays and human studies, improving drug discovery while reducing research and development costs.
CN Bio has also announced the relocation and expansion of its headquarters to the Cambridge Science Park, UK, including 4,000 sq. ft. of laboratory space.