iotaSciences, the single-cell biology handling solutions provider, has successfully raised an equity round to facilitate the expansion of its handling solutions.
According to the company, they are key to R&D workflows related to cell and gene therapy, as well as other applications — which could have a multi-million dollar market potential in the coming years.
The funding was supported by existing investors Oxford Science Enterprises, while also receiving novel funding from the Oxford Innovation EIS Growth Fund managed by the Oxford Innovation Finance.
“We are thrilled to have secured this latest funding from renowned existing and new investors”, Dr Michael Lutz, CEO at iotaSciences, commented. “These funds will help to further position us as a leader in the rapidly evolving field of single-cell biology handling solutions and accelerate our commercial activities in Europe, the U.S and Asia. It will also support our development efforts related to a unique next-generation single-cell cloning platform based on the proprietary fluid-shaping technology.”
Dr Oliver Mahony, OSE´s representative on the Board added: “iotaSciences has delivered strong commercial performance over the last 12 months, doubling its installed base in Europe and the U.S and achieving its first placements in China through a recently announced distribution partnership. We are delighted to continue to support iotaSciences on its mission to become the leader in single-cell solutions for iPSC handling and other emerging high growth applications.”