New funds will support ongoing commercial activities in Europe, the U.S and Asia and further enhance the development of a next-generation single-cell cloning platform
OXFORD, UK, July 31, 2024 / Biotech Newswire / -- iotaSciences, the Oxford-based leader in single-cell biology handling solutions has successfully raised an equity round in new growth funding to continue expansion of its pioneering business related to single-cell biology handling solutions. Such solutions are key to R&D workflows related Cell and Gene Therapy (CGT) and other applications and represent a multimillion dollar market potential in the coming years(1).
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 focussed 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 offer 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.
About Oxford Sciences Enterprises
Oxford Science Enterprises (OSE) is an independent, billion-pound investment company, created in 2015 to found, fund and build transformational businesses across three high-impact sectors - Life Sciences, Health Tech and Deep Tech.
Via its unique partnership with the University of Oxford, the world’s #1 research university, and with the backing of leading international blue-chip investors, OSE turns the most advanced science and technology innovations into companies tackling the world’s toughest challenges.
To date, OSE has invested £0.7 billion in over 80 ambitious companies built on Oxford science. A key player in Oxford’s innovation ecosystem, OSE has attracted over 300 co-investors that have brought in an additional £1.6 billion of funding for Oxford companies.
About Oxford Innovation EIS Growth Fund
The Oxford Innovation EIS Growth Fund provides a gateway to a diverse selection of high quality early-stage companies developing solutions to the challenges of our future. Manged by Oxford Innovation Finance, the home of OION - the UK's most active angel network*, the Oxford Innovation EIS Growth Fund invests profoundly in the industry of disruptive science and the next generation of technology. Its unique approach makes use of an extensive network of entrepreneurs, angel investors, sector experts and business coaches to source and select the best investments and help them to realise their growth and maximise the opportunity for a profitable exit.
*According to data compiled by Beauhurst.
Contact
iotaSciences Ltd.
Dr Michael Lutz, Chief Executive Officer
+44 (1865) 309630
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References
1. Research Reports World, 2024
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Source: Biotech Newswire