DefiniGEN to Invest in new Stem Cell Lines

Life sciences products provider DefiniGEN has raised £1.5m ($2.29m) in follow-on funding that will support development of new pancreatic and lung stem cells for drug discovery and regenerative medicine. The round was led by Cambridge Enterprise, the commercialisation arm of the University of Cambridge, and 24 Haymarket, with key investors Dr Jonathan Milner (Chairman), Providence Investment Company, Parkwalk, and Cambridge Capital Group also participating. This funding follows the closing of £2.28 million ($3.83 million) Series A funding in 2014.

The company’s platform technology OptiDIFF produces cell types that can be used as predictive in vitro models to support the development of safer and more effective treatments for disease ahead of clinical trials. The new funding will also support the company’s business expansion in North America, Europe and Asia Pacific, the funding of new staff and scale-up of production facilities.

Commenting on the announcement, Dr Marcus Yeo, CEO of DefiniGEN said: “In a short space of time, DefiniGEN has undergone rapid development, securing growing sales with global pharma companies. We are delighted to have raised the funds that will allow us to deliver new market-leading products to our customers and assist them in developing therapies for the global healthcare challenges we face today such as diabetes and liver disease.”