Successful exit for Redalpine with InSphero12.10.2015 09:52
Redalpine exited its InSphero investment to two financial investors with strategic interest and secured a multiple of more than 10x on the investment.
In July InSphero, a leading developer of easy-to-use solutions for organotypic 3D cell culture models and body-on-a-chip systems, has closed a CHF 20 million financing round. Last week the Swiss venture investor Redalpine announced that Redalpine has now exited its InSphero investment to two financial investors with strategic interest. In its newsletter the team writes: “with Redalpine Capital I in the middle of the harvesting phase, it was a timely opportunity to secure a multiple of more than 10x on our investment.”
In July InSphero announced that the company had secured CHF 20 million in financing from the family investment office of a globally active entrepreneur represented through HP WILD HOLDING AG based in Zug, Switzerland.
InSphero is using the Series C financing round to rapidly expand its global footprint, broaden its portfolio of novel 3D microtissues and contract research services for 3D drug safety and efficacy testing, and develop new projects and applications based on its proven technology
Since its commercial launch in 2010, the company has experienced strong year-over-year sales growth marked by the rapid adoption of its 3D InSight microtissues and services by leading pharmaceutical, chemical and cosmetics companies Since last year, large pharma organizations have begun converting from conventional assays to InSphero's 3D microtissues
The Redalpine team comments in their newsletter: “For us at Redalpine it was an honour to work with one of the most brilliant teams around. We are fortunate to have shared part of their exciting journey and we wish them, the new investors and all the remaining shareholders a seamless continuation of the InSphero success story.”