DefiniGEN launching new stem cell products after $3.8m fundraising

DefiniGEN, the Cambridge UK stem cell technology specialist, has closed a 2.28m ($3.83m) Series A funding round with a 1m ($1.6m) final placement for ordinary shares.

The cash will support the international expansion of the business and the commercial launch of new products to boost regenerative medicines.

The funding round was led by Cambridge Enterprise and 24 Haymarket, with existing investors Dr Jonathan Milner CEO of Abcam Hermann Hausers Providence Investment Company and Cambridge Capital Group also participating. New investors include LBA, Wren Capital, and Ranworth Capital.

The latest funding 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 companys 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 the companys 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.

Its platform technology OptiDIFF is a revolutionary stem cell production platform for the generation of high-functionality cell types including, liver, pancreatic and lung cells.

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DefiniGEN launching new stem cell products after $3.8m fundraising