Mimetas puts $5.2m on a chip

Mimetas, a biotech spin-out of Leiden University, has raised $5.2m in a series A round led by Zeeuws Investerings Fonds (Zif) and Participatiemaatschapij Oost Nederland (Ppm Oost). Unnamed regional and national investors also joined.

Mimetas is developing organs-on-a-chip, using 3D disease and tissue modelling technology. It already has a range of models around a range of diseases and toxicology in its pipeline, at varying degrees of validation, and plans to expand that pipeline with the fresh funding.

Ppm Oost manages government funds in the Dutch provinces of Gelderland and Overijssel. It has a five to seven year view on return-on-investment and currently has more than 195 portfolio companies. Its total fund size currently stands at more than €250m ($316m).

Zif focuses on seed stage tech companies. On top of investments, Zif supports its portfolio companies with access to its network and experience of shareholders.

Johan Sebregts, managing director at Zif, said: “We immediately recognised Mimetas’ large upside potential. To help developing this, we support Mimetas not only with capital, but also through the vast expertise of our shareholders that include Dutch captains of industry.”