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InSphero raises additional $10m

15.06.2018 13:57

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Drug testing

Internal and external investors of the Zurich based startup, InSphero, have contributed an additional $10 million to the startup’s recent financing round. The investment brings the total funding to $35 million. The funds will flow into its Organ-on-a-Chip Disease Models.

InSphero offers comprehensive solutions for preclinical drug safety and efficacy testing 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 (T1 and T2 diabetes, and liver diseases, NAFLD and NASH), and oncology.

A recent milestone for the startup was the 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 and the Swiss Federal Institute of Technology (ETH). The technology, baptized Akura Flow, promises to transform drug discovery and development, with the potential to make animal testing in pharma and cosmetic companies obsolete.

Thanks to the additional $10 million from its Internal and external investors, InSphero will now be able to enhance its discovery platforms for metabolic diseases and cancer.

InSphero CEO and co-founder 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 modelling—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 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.

(Press release/ran)

Picture: Fotolia / Kurhan

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