iotaSciences, the Oxford-based leader in single-cell biology handling solutions, has successfully raised an equity round in new growth funding to continue the expansion of its pioneering business related to single-cell biology handling solutions.
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Such solutions are key to R&D workflows related to cell and gene therapy (CGT) and other applications and represent a multimillion dollar market potential in the coming years.
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The funding was strongly supported by existing investors, including Oxford Science Enterprises (OSE), and welcomed new investment from the Oxford Innovation EIS Growth Fund managed by 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.”
Richard Cooper, Managing Director of Oxford Innovation Finance, concluded: “iotaSciences aligns perfectly with our investment strategy focused on high-quality, high-growth UK early-stage science and technology companies that are pioneering solutions to the challenges of our future. Their impressive recent advancements, supported by their groundbreaking technology solutions, promise to unlock the company´s full potential in cell and gene therapy applications and beyond.”
About iotaSciences
iotaSciences is a spin-out from the University of Oxford (UK), founded in 2016 by scientists from the Department of Engineering Science and the Sir William Dunn School of Pathology. Since its inception, iotaSciences has been committed to offering researchers highly user-friendly, reliable, and powerful single cell handling technologies and solutions with unique capabilities that greatly simplify and facilitate breakthrough advances in cell biology and gene therapy.
