CN Bio secures $21M in Series B funding
CN Bio, based in Cambridge, UK, has recently announced the first close of its Series B funding, raising an impressive $21M. This funding round saw contributions from several new investors, with $10 million coming from Bayland Capital and $5.5m from founding shareholder CN Innovations Holdings Ltd. With this financial boost, the company plans to expand its product portfolio and scale its business operations to cater to the growing demand for its microphysiological systems globally.
Under the leadership of CEO Dr Paul Brooks, CN Bio is focused on meeting the increasing need for its PhysioMimix® OOC technology and research services.
By offering clinically-relevant insights into early-stage preclinical drug discovery, the company aims to reduce reliance on animal models and provide innovative solutions to drug developers. Dr Brooks emphasized the importance of adapting to the market needs and expressed gratitude for the support received from both existing and new investors in driving the company's vision forward.
The investment received by CN Bio is a clear indication of the industry's recognition of the potential of OOC technology in enhancing drug development processes. Dr. Brooks highlighted the strategic positioning of the company to capitalize on this trend and underscored the team's commitment to delivering efficient and cost-effective solutions for bringing new drugs to market. With a strong focus on customer support and innovation, CN Bio is well-positioned to lead the way in advancing drug discovery through cutting-edge technologies.
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