InSphero Receives Additional USD 10m for Organ-on-a-Chip Disease Models
InSphero AG / InSphero Receives Additional USD 10m for Organ-on-a-Chip Disease Models . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
Comprehensive, customizable platforms for preclinical drug safety and efficacy testing, coupled with emerging organ-on-a-chip technology, garner investor support
Schlieren, Switzerland, June 13, 2018 (GLOBE NEWSWIRE) -- InSphero AG today announced that it has raised USD 10 million in its latest funding round with additional financing, secured from internal and external investors, bringing its total funding to date to USD 35 million. An innovative provider of 3D cell-based platforms for drug discovery and efficacy testing, InSphero will apply the funds to further enhance its discovery platforms for metabolic diseases and cancer.
InSphero's comprehensive solutions for preclinical drug safety and efficacy testing are based on 3D microtissues, which are phenotypic models of the smallest functional unit of a tissue or organ. These drug-discovery and testing platforms combine scalable 3D technology, ISO quality-controlled 3D human tissue models, 3D-optimized media, as well as tailored assay services and support. Drug-discovery partners immediately gain access to the depth and breadth of InSphero's experience in developing and applying 3D models for liver toxicology, metabolic diseases (e.g, T1 and T2 diabetes, and liver diseases NAFLD and NASH), and oncology.
A new milestone for the market leader is the successful linking of different 3D microtissues through a unique microfluidic organ-on-a-chip technology that enables researchers to better understand how drugs affect the human body as a whole. The technology is used in ongoing research collaborations with academic and industry partners, such as Roche Pharmaceuticals in Basel, Switzerland, and the Swiss Federal Institute of Technology (ETH). The technology, baptized Akura(TM) Flow, promises to transform drug discovery and development, with the potential to make animal testing in pharma and cosmetic companies obsolete.
InSphero CEO and co-founder Dr. Jan Lichtenberg says, "This funding will enable us to complete our transition from a supplier to a partner, offering our customers the full value of our 3D technology and knowledge of applied 3D disease modeling-whether they need a complex custom model, a body-on-a-chip system, or an experienced collaborator for a long-term, joint discovery project."
Former GM of Promega Switzerland Dr. Jürg Gysi, who is now President of the InSphero Board of Directors and an investor in this round, adds, "Over the past several years, InSphero has created tangible benefits for pharma and biotech companies worldwide. This secured funding will support the company's continuing growth, which was exceeding 40% in the second half of 2017 alone."
InSphero has received ongoing fundraising support from Venturelab, which has nurtured their evolution from a Swiss start-up to a global biotechnology leader, with customers from all top ten pharmaceutical companies.
For more information about InSphero, visit www.insphero.com.
Dr. Frank Junker
Chief Business Officer
Phone +41 44 5150490
Dr. Jan Lichtenberg
Chief Executive Officer
Phone +41 44 5150490
InSphero sets the standard for in vitro testing of novel drugs in the pharmaceutical and biotechnology industry with comprehensive solutions that provide greater confidence in decision making. Its robust and highly physiologically relevant suite of 3D InSight(TM) Platforms are used by major pharmaceutical companies worldwide to increase efficiency in drug discovery and safety testing. The company specializes in liver toxicology, metabolic diseases (e.g, T1 & T2 diabetes and NAFLD & NASH liver disease), and oncology (with a focus on immuno-oncology and PDX models). 3D InSight(TM) Discovery and Safety Platforms are used by all top 10 pharmaceutical companies and are available in 96-well, 384-well, and organ-on-a-chip formats to drive efficient innovation throughout all phases of drug development.
Karen Dowell InSphero AG 800-779-7558 firstname.lastname@example.org
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: InSphero AG via Globenewswire
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