Stem cell company Definigen, a Cambridge spinout, raises $2.3m to launch new pancreatic and lung stem cell products to support predictions of drug candidates before clinical trials.
Definigen, a stem cell spinout from Cambridge University, has raised £1.5m ($2.3m) in follow-on funding in a round led by Cambridge Enterprise, the institution’s tech transfer office.
Parkwalk Advisors, which manages funds on behalf of Cambridge University, 24 Haymarket, Providence Investment Company, Cambridge Capital Group and Jonathan Milner, chairman of Definigen, also supplied cash.
Definigen focuses on the creation of more accurate predictions of drug candidates ahead of clinical trials. The company’s Optidiff stem cell production platform creates high-functionality liver, pancreatic and lung cells that can be used as predictive models.
The funding will be used to launch its latest pancreatic and lung stem cell products.
Previously, the company raised £2.3m in a 2014 series A round featuring Cambridge Enterprise, 24 Haymarket, Providence Investment Company, Cambridge Capital Group, London Business Angels, Wren Capital, Ranworth Capital and Jonathan Milner.
In 2013, Definigen raised £1.3m in a round led by Cambridge Enterprise.
Marcus Yeo, chief executive of Definigen, said: “In a short space of time, Definigen has undergone rapid development, securing growing sales with global pharma companies.”
