Date: 2014-06-02
Type of information: Series A financing round
Company: Definigen (UK)
Investors: Cambridge Enterprise (UK) 24 Haymarket (UK) Dr. Jonathan Milner (UK) Providence Investment Company (UK), Cambridge Capital Group (UK) LBA, Wren Capital (UK), Ranworth Capital (UK)
Amount: £2.3 million (€2.83 million)
Funding type: series A financing round
Planned used: The funds will be used to drive profitable growth across four key areas: • expansion of direct commercial presence across Europe, North America and Asia Pacific with dedicated local marketing presence • investment in automation at the Company’s enlarged laboratory facility and recruitment of high quality production staff • expansion of product line offerings in new areas including human induced pluripotent stem cell (iPSC) derived hepatocyte types, pancreatic beta cells and lung cells, with others to follow • strengthening of Defiigen\'s intellectual property portfolio DefiniGEN is focused on serving the growing need in the pharmaceutical industry for more accurate predictions of efficacy and toxicity in drug candidates ahead of clinical trials. DefiniGEN was founded in 2012 to commercialise OptiDIFF, the stem cell production platform developed at the University of Cambridge, UK. This platform is used for the generation of high-functionality cell types including, liver, pancreatic and lung cells.The Company has world-leading expertise in the area of iPSC-derived human cell production and metabolic disease modelling. The application of these technologies in drug discovery provides pharmaceutical companies with more predictive in vitro cell products enabling the development of safer and more effective treatments. In addition, the technology platform utilises fully defined and humanised conditions required for the development of regenerative medicine cellular therapies. DefiniGEN builds on intellectual property and knowledge resident at the University of Cambridge Regenerative Medicine Department at Addenbrooke’s Hospital and has in-licensed the Yamanka induced pluripotent stem cell IP portfolio from iPS Academia Japan Inc.
Others: * On June 2, 2014, DefiniGEN, a provider of stem cell life science products and services, announced the final closing of its Series A funding round. The latest £1 million ($1.6 million) placement for ordinary shares brings to a close a cumulative total for the round of £2.28 million ($3.83 million), which will support the international expansion of the business and the commercial launch of new products. The funding round was led by Cambridge Enterprise and 24 Haymarket, with existing investors Dr. Jonathan Milner, CEO, Abcam Plc, Providence Investment Company, and Cambridge Capital Group also participating. New investors include LBA, Wren Capital, and Ranworth Capital.
Therapeutic area:
