DefiniGEN raises £1.5m in follow-on funding led by Cambridge Enterprise and 24 Haymarket
The follow-on investment will fund the commercial launch of new pancreatic and lung stem cell products.
DefiniGEN provides human cell products and services, creating predictive disease cell models for preclinical research and drug development.
DefiniGEN has secured £1.5m in follow-on funding to accelerate the commercial launch of its pancreatic and lung stem cell products. The investment round was led by Cambridge Enterprise and 24 Haymarket, with participation from Dr Jonathan Milner, Providence Investment Company, Parkwalk, and Cambridge Capital Group.
The capital will be directed towards launching cryopreserved pancreatic beta cell products for diabetes research, developing new lung and intestinal cell lines for genetic disease treatments, and expanding the company's business footprint across North America, Europe, and Asia Pacific. Additional funds will support staff recruitment at its laboratory facilities and the strengthening of its intellectual property portfolio.
This follows a £2.3m Series A round raised by the company in 2014. DefiniGEN continues to target profitability while serving growing demand from global pharmaceutical firms for more accurate in vitro models to predict drug efficacy and toxicity.
From the founder
"In a short space of time, DefiniGEN has undergone rapid development, securing growing sales with global pharma companies. We are delighted to have raised the funds that will allow us to deliver new market-leading products to our customers and assist them in developing therapies for the global healthcare challenges we face today such as diabetes and liver disease."
Marcus Yeo
CEO at DefiniGEN
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Grow the team
- 04Build out infrastructure
Investors
Cambridge Enterprise
24 Haymarket
Jonathan Milner
Providence Investment Company
Parkwalk
Cambridge Capital Group