Nagi Bioscience obtains CHF 1.8 Million Seed funds

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20.12.2019

With its Organism-on-Chip technology, the Lausanne based Nagi Bioscience seeks aims to set a new standard for in Vitro testing safety and efficacy of drugs and chemicals. To achieve this mission, Nagi Bioscience has raised CHF 1.8 million in its seed round to complete the development of its first product and accelerate commercialisation.

Investors in the round include the leading Swiss venture capital platform investiere, Zürcher Kantonalbank, NEST pension fund and private investors from Switzerland and the United States.

This milestone comes less than one year after Nagi Bioscience was incorporated as a spinoff company from the EPFL.  The life sciences startup has developed an innovative “Organism-on-Chip” technology, aiming to revolutionize the way toxic and beneficial effects of substances are tested today. This technology relies on the combined use of microfluidics and microscopic worms (the validated biological model C. elegans) to provide a new sustainable alternative to traditional animal testing to pharma, chemical, cosmetic industries and biomedical research. This solution complies with the emerging directives for the replacement, reduction and refinement of animal testing, i.e. the so-called “3Rs” principles, and allows significantly reducing costs and delays of pharmaceutical and chemical research.

“Complex drug efficacy and safety tests that would take months using traditional animal testing now can be carried out on our microfluidic device in only a few days, at a fraction of their current cost and in a fully the automated way,” says Matteo Cornaglia, the founder and CEO of Nagi Biosciences.

The startup has already prototypes under validation in collaboration with key industrial players in the chemical and biotech fields. The proceeds of the seed round will allow completing product development and preparing market access.

Chris Radloff, who is joining the company’s Board of Directors, says. “I have been following Nagi Bioscience for more than a year and I am excited to be part of the next phase developing this innovative idea between life science and microfluidics into a business.” Radloff is a board director and angel investor in several start-up companies. For his new role at Nagi, he brings over 20 years of expertise in the life-science-tech field.

(Press release)

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