ClexBio, a Oslo, Norway-based startup developing bioengineered human blood vessels for transplant, secured US$2.2m in seed funding.
The financing included
- US$1.2m from angel investors across Europe and Asia, including board members of Global Fortune 500 healthcare companies and senior executives from within and outside the biotech industry, and
- US$1m in non-dilutive grants from the Research Council of Norway, the UK Engineering and Physical Sciences Research Council, Innovation Norway, and the Centre for Digital Life Norway.
The company intends to use the funds to continue to expand operations and development efforts.
Led by Dr. Armend G. Håti, Co-Founder and ,CEO, and Dr. Manuel Schweikle, Co-Founder and CSO, ClexBio leverages proprietary Competitive Ligand Exchange X-Linking (CLEX) technology to develop blood vessel transplants by manipulating delicate living cells at the microscale, a prerequisite for recreating functional biological tissue architectures in the lab.
Today, the company is already commercializing early R&D applications of its solution in partnership with Cambridge-based single-cell analysis pioneer Sphere Fluidics.