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CN Bio Innovations raises $9 million USD (c. £6.9 million GBP)

March 2, 2020 by CN Bio

  • Investment will support commercial development in key markets, US and Europe 
  • Funding led by CITIC Securities Investment and supported by existing investor CN Innovations
  • Headquarters relocated to larger premises in Cambridge Science Park, a leading UK life sciences hub 

Cambridge, UK, 2nd March 2020: CN Bio Innovations (“CN Bio”), a leading cell culture company that has developed organ-on-chip laboratory instruments to improve the accuracy and efficiency of drug discovery, today announced it has raised $9 million USD (circa £6.9 million GBP) investment, led by CITIC Securities Investment Co., Ltd., and supported by existing investor CN Innovations Holdings Ltd. 

The funding will be used to support commercial development and strengthen CN Bio’s position in its key market, the US, whilst also expanding operations across Europe. This funding will help drive sales of the Company’s products and services including the PhysioMimix® platform. CN Bio has also announced the relocation and expansion of its headquarters to the Cambridge Science Park, UK, including 4,000 sq. ft. of laboratory space.

CN Bio’s micro-physiological systems enable researchers to study drug metabolism, toxicology and specific disease models on single- and multi-organ systems. Providing efficiencies for pre-clinical drug testing with predictive human tissue-based data, CN Bio’s OOC technologies are able to replicate the micro-environments, cell-cell interactions and biological processes that occur in vivo, to reliably bridge the gap between traditional cell culture assays and human studies, improving drug discovery while reducing research and development costs.

Dr David Hughes, CEO, CN Bio Innovations, commented: “This investment will enable us to focus on the delivery of our business strategy and the Company’s commercial growth, while ensuring that we remain at the forefront of the organ-on-chip technologies field. We are delighted to have secured this investment from both new and existing investors, which reflects both the potential of our technology and products, as well as the unrivalled experience and capabilities of our team.” 

Hao Fang, CEO of CITIC Securities Investment Co., Ltd., said: “The organ-on-chip market is estimated to grow to $220million USD by 2025, at a CAGR of 39.9%. Building on over ten years of research and development of organ-on-chip technology, CN Bio is an exciting and promising investment. We look forward to the Company’s future developments, poised to transform the process of generating human-relevant pre-clinical data to ultimately bring new medicines to market, quicker.”  

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  • Immune-mediated DILI – Predicting the unpredictable! March 16, 2023
  • CN Bio appoints Deepak Singh as Vice President of Sales and Marketing March 14, 2023
  • CN Bio extends microphysiological system portfolio with PhysioMimix Single-Organ Higher Throughput System   February 27, 2023
  • The FDA further expands collaboration with CN Bio to evaluate the PhysioMimix Multi-organ microphysiological system January 17, 2023
  • The U.S. FDA Modernization Act 2.0. Now the animal testing mandate is removed, learn what can be embraced in its place. January 9, 2023

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Latest news

  • Immune-mediated DILI – Predicting the unpredictable! March 16, 2023
  • CN Bio appoints Deepak Singh as Vice President of Sales and Marketing March 14, 2023
  • CN Bio extends microphysiological system portfolio with PhysioMimix Single-Organ Higher Throughput System   February 27, 2023

Upcoming events

ISSX DMDG 2023 June 11-14, 2023

MPS World Summit Berlin 2023 June 26-30, 2023