Inventia Life Science, a biomedical research company, has raised A $ 35 million ($ 25 million) in a Series B round of funding, led by Blackbird Ventures, to commercialize its cell culture platform globally and grow its team, the company said in a statement on Thursday. .
The latest funding has brought the company’s total fundraising to A $ 45 million to date.
Julio Ribeiro, Founder and CEO of Inventia, said that RASTRUM, the company’s 3D cell culture platform, can make a significant contribution to the pharmaceutical industry by enabling new drugs to be tested in a well-designed 3D cellular environment. before reaching clinical trials.
“It can reduce the total cost of bringing an effective drug to market by hundreds of millions of dollars,” said Ribeiro. Likewise, cancer researchers can now work on a large scale with cell models that mimic the human body almost exactly and produce more precise and predictive research results than ever before.
Sydney-based Inventia Life Science has also expanded its practice by appointing Dwayne Dexter as Director of Sales in the United States. Dwayne will be responsible for developing the company’s pharmaceutical and academic customer base across North America.
The company also aims to increase its team to 150 employees by 2024, up from 36 currently.
Claimed as the world leader in advanced 3D cell culture, the company was founded by Julio Ribeiro, Aidan O’Mahony, Cameron Ferris and Peter Arthur in 2013.
Other investments in science and medical breakthroughs have mostly been made recently in China. Allorion Therapeutics, a Chinese developer of next-generation precision medicine for oncology and autoimmune diseases, announced the completion of a $ 40 million Series A funding last month.
Cornerstone Robotics, a Chinese startup that develops innovative surgical robots, raised around $ 78 million in a Series B round in November, led by biomedical venture capital firm Lilly Asia Ventures (LAV); DragonBall Capital and Hong Kong real estate company New World Development.