Cambridge-based drug discovery company CN Bio has successfully closed a $21m (£17m) Series B funding round to further develop its innovative technology, which aims to eliminate the need for animal testing in drug development.
CN Bio specializes in organ-on-chip (OOC) technology, utilizing engineered or natural tissues grown inside chips to replicate human physiology, offering a more ethical and accurate alternative to traditional animal testing methods.
CN Bio addresses the ethical and scientific challenges associated with traditional drug development processes that rely heavily on animal testing.
By leveraging organ-on-chip (OOC) technology, the company aims to overcome the limitations and ethical concerns associated with animal experimentation while providing more accurate models for testing novel therapeutics.
CN Bio’s innovative approach revolves around organ-on-chip (OOC) technology, which enables the development of in vitro organ models that closely mimic human physiology.
“We are seeing pivotal growth across our industry, whereby drug developers are increasingly recognizing the potential of OOC technology to augment, supplement, and optimize their workflows.” CN Bio CEO Dr Paul Brooks stated,
These models serve as effective alternatives to animal testing, offering drug developers a more ethical and accurate platform for evaluating the safety and efficacy of new treatments.
By advancing OOC technology, CN Bio aims to revolutionize drug discovery and improve the efficiency of therapeutic development processes.
CN Bio’s technology targets a broad spectrum of stakeholders in the pharmaceutical and biotechnology industries, including drug developers, researchers, and regulatory agencies.
By providing a more ethical and scientifically robust alternative to animal testing, CN Bio’s OOC technology appeals to companies seeking innovative solutions to accelerate drug discovery while adhering to ethical standards.
“CN Bio has taken key steps to build a team with extensive industry expertise and robust networks across the industry, with a longstanding track record of success.” Bayland Capital founding partner Yuexing Su commented.
The global OOC market’s CAGR is estimated at 30.94%1. This growth has been accelerated, in part, by the need for biopharmaceutical companies to improve the efficiency and success rate of innovative drug R&D and recent legislative changes, such as the US FDA Modernization Act 2.0.
In response, CN Bio is delivering an ambitious expansion strategy to meet the increasing demand for its PhysioMimix® OOC technology and research services, and to provide deeper, clinically-relevant insights into early-stage preclinical drug discovery in a wider range of application areas, whilst reducing reliance on animal models.
