Cambridge Enterprise and 24 Haymarket led a $2.28 million in series A funding for DefiniGEN, a provider of stem cell life science products and services.
Other new investors in the business through the round include Wren Capital and Ranworth Capital, with the money earmarked for supporting the international expansion of the business and commercial launch of new products.
The company focuses on serving the growing need in the pharmaceutical industry for more accurate predictions of efficacy and toxicity in drug candidates ahead of clinical trials.
24 Haymarket lead investor Marek Gumienny, who was formerly Chairman of Candover Partners, said, “DefiniGEN is a dynamic innovative company with a business model that can harness the huge potential of stem cell technology.
“Stem cells have the power to revolutionise healthcare, radically improve the efficiency and economics of drug development and enable personalised regenerative medicine to become a reality.”
Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Cambridge Enterprise, 24 Haymarket, DefiniGEN, Marek Gumienny, Candover Partners, Healthcare.