TOP 100 Startup Award winner InSphero secures CHF 20 million series C financing
08.07.2015
InSphero, Nr. 1 Swiss Startup of the Top 100 Swiss Startup Rankings 2014 and the world's leading developer of easy-to-use solutions for organotypic 3D cell culture models and body-on-a-chip systems, has secured CHF 20 million in financing from the family investment office of a globally active entrepreneur represented through HP WILD HOLDING AG based in Zug, Switzerland. InSphero is using the Series C financing round to rapidly expand its global footprint, broaden its portfolio of novel 3D microtissues and contract research services for 3D drug safety and efficacy testing, and develop new products and applications based on its proven technology.
 InSphero © Tina Sturzenegger
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Since its commercial launch in 2010, the company has experienced strong year-over-year sales growth marked by the rapid adoption of its 3D InSight™ microtissues and services by leading pharmaceutical, chemical and cosmetics companies. Since last year, large pharma organizations have begun converting from conventional assays to InSphero's 3D microtissues.
Dr. Jan Lichtenberg, CEO and co-founder of InSphero, says that the investment round enables InSphero to leverage the successful customer implementations, robust validation data, and growing scientific evidence to become the gold standard in the field of 3D cell-based assays.
The proceeds of the financing round will be invested to expand InSphero's North American scientific staff and operations into a state-of-the art bio-production facility; increase the variety of model systems available to customers across different industries; and to develop new products.
About InSphero
Founded in 2009, the privately held company is headquartered in Schlieren, Switzerland with subsidiaries in the United States (Brunswick, ME) and Waldshut, Germany. It has been recognized for its scientific and commercial achievements with a number of national and international awards. Right after InSphero having been named the #1 Swiss Startup in the Top 100 Swiss Startup Rankings 2014, it was recognized as winner of the 2014 ACES Life Sciences Award. Its clients are internationally recognised companies in the pharmaceutical, cosmetic and chemical sectors. This up-and-coming company benefited early on from support from the Venture Kick and venture leaders USA programs.
InSphero provides superior biological relevance to in vitro testing with its easy-to-use solutions for production, culture and assessment of more organotypic 3D cell culture models. The company's patented 3D cell culture platforms and methods enable large-scale, reproducible production of a broad range of assay-ready 3D InSight™ Microtissues derived from liver, pancreas, tumor, heart, brain and skin. These models and contract research services utilizing them help to identify promising drugs and toxic liabilities with greater predictivity at early development stages, enabling better pre-clinical decision making, saving development cost, and shortening time to market. This 3D know-how is now also being applied in the diagnostics field to aid development of personalized chemotherapeutic strategies for the treatment of cancer.
Dr. Jan Lichtenberg, CEO and co-founder of InSphero, says that the investment round enables InSphero to leverage the successful customer implementations, robust validation data, and growing scientific evidence to become the gold standard in the field of 3D cell-based assays.
The proceeds of the financing round will be invested to expand InSphero's North American scientific staff and operations into a state-of-the art bio-production facility; increase the variety of model systems available to customers across different industries; and to develop new products.
About InSphero
Founded in 2009, the privately held company is headquartered in Schlieren, Switzerland with subsidiaries in the United States (Brunswick, ME) and Waldshut, Germany. It has been recognized for its scientific and commercial achievements with a number of national and international awards. Right after InSphero having been named the #1 Swiss Startup in the Top 100 Swiss Startup Rankings 2014, it was recognized as winner of the 2014 ACES Life Sciences Award. Its clients are internationally recognised companies in the pharmaceutical, cosmetic and chemical sectors. This up-and-coming company benefited early on from support from the Venture Kick and venture leaders USA programs.
InSphero provides superior biological relevance to in vitro testing with its easy-to-use solutions for production, culture and assessment of more organotypic 3D cell culture models. The company's patented 3D cell culture platforms and methods enable large-scale, reproducible production of a broad range of assay-ready 3D InSight™ Microtissues derived from liver, pancreas, tumor, heart, brain and skin. These models and contract research services utilizing them help to identify promising drugs and toxic liabilities with greater predictivity at early development stages, enabling better pre-clinical decision making, saving development cost, and shortening time to market. This 3D know-how is now also being applied in the diagnostics field to aid development of personalized chemotherapeutic strategies for the treatment of cancer.