DefiniGen generates $3.85m series A

DefiniGen, a biotech specialising in stem cell manufacturing has closed its series A with £2.3m ($3.85m). Investors in the Cambridge University spin-out include Cambridge Enterprise and 24 Haymarket, which co-led both halves of the series, Jonathan Milner, CEO of Abcam, Providence Investment Company and Cambridge Capital Group. They are joined by London Business Angels, Wren Capital and Ranworth Capital.

The company, launched less than two years ago, is carefully considering a move into regenerative medicine. It will spend the next 12 months carrying out the quality management work to attain the Good Manufacturing Practice registration necessary to produce medicinal products. DefiniGen also still needs the approval from shareholders before fully moving into regenerative medicine. So far, it has been focussing on preclinical to guarantee a significant return on investment.

The spin-out supplies stem cells and associated services for the drug discovery industry, mainly enabling more accurate predictions of both efficiency and toxicity in drug candidates before expensive clinical trials.

DefiniGen uses a proprietary technology platform called OptiDiff, to generate high-functionality cell types including, liver, pancreatic and lung cells. These can then be used as predictive in vitro models to support the development of safer and more effective treatments for diseases. The process is cheaper for pharmaceutical companies than running expensive clinical trials on new drug candidates that prove unviable.

Marek Gumienny, lead investor at 24 Haymarket, said: “DefiniGen is a dynamic innovative company with a business model that can harness the huge potential of stem cell technology. Stem cells have the power to revolutionise healthcare, radically improve the efficiency and economics of drug development and enable personalised regenerative medicine to become a reality.”