Zurich, Switzerland (PRWEB) June 18, 2013
Since its founding in 2009, InSphero has established strong footholds in the market of 3D cell culture for highly predictive drug development and testing, serving most of the top 10 global pharmaceutical and cosmetics companies. To expand its rapidly growing business in the US and East Asia and to meet the increasing customer demand for its 3D microtissues the company successfully closed a financing round of CHF 2 million last month. This series B financing was led by existing and two new private investors from Switzerland bringing a mixture of equity capital and long-term loans to InSphero.
Dr Jan Lichtenberg, Chief Executive Officer and Co-founder of InSphero, says: “We are very proud that our existing investors recognize InSphero’s achievements and potential and that they make this important commitment to the future of the company. These funds allow us to continue to expand our business in the US and to invest into our recently established subsidiary InSphero, Inc. in Cambridge, MA further enhancing customer support in this important market. Moreover, the new capital will support our growing sales and marketing activities in Japan, Korea and Singapore and help us to expand our automatic production line for tumor and liver microtissue models to keep in step with constantly increasing customer demand.”
To find out more about InSphero visit http://www.insphero.com
InSphero is a leading supplier of organotypic, biological in vitro 3D microtissues for highly predictive drug testing. The company, headquartered in Zurich, Switzerland, currently counts 7 of the top ten global pharmaceutical and cosmetics companies as customers. InSphero 3D Insight™ Microtissues enable more biologically relevant in vitro applications in efficacy and toxicology. The spin-off company of the Swiss Federal Institute of Technology (ETH) Zurich and the University Zurich has been recognized for its scientific and commercial achievements with a number of national and international awards and is also certified to the ISO 9001:2008 standard for its Quality Management System.