MicrofluidX, a pharmaceutical technology provider has raised over $1.7 million to help develop its cell bioprocessing technology. This newly acquired fund will be used to develop a working prototype of its bioprocessing platform for cell and gene therapies.
Its company uses microfluidics within its technology to facilitate process development by running dozens of cell culture conditions in parallel. This allows the production capacity to be expanded to several billions of cells at reduced costs.
The funding will be used to build a working prototype of its platform that can be used to generate comparative biological data between its technology and conventional single-use technologies.
MicrofluidX’s Founder and Chief Executive Officer, Antione Espinet said that they are excited to have closed the initial round of founding with the help from UK Innovation & Science Seed Fund.
They are continuously building partnerships with Biotechnology and Pharmaceutical companies on top of its existing partnerships with Cell and Gene Therapy Catapult and the Centre for Process Innovation, of which a part of the acquired funding will be used to fund trials it has with its partners.
Pablo Lubroth, Investment manager at UK Innovation & Science Seed Fund added that, there is a clear unmet need in cell and gene therapy manufacturing.
Key issues such as cost-of-goods, batch variability and scalabilities can all be met by using MicrofluidX technology.