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Cytoo Raises $10M in Series C Round

NEW YORK (GenomeWeb News) – French cell-based assays developer Cytoo said this week that it has raised $10 million in a Series C financing round.

The round included new investors Sham, which is a French mutual insurance company, and venture capital firm Entrepreneurs Fund. Previous investors including Auriga Partners and Cytoo Co-founder and Supervisory Board President Jacques Lewiner also participated in the financing.

Cytoo's cell-based assays and high-content screening tools are based on its adhesive micropatterning technology, which was licensed from Institut Curie and CNRS. It also holds licenses to technologies from Harvard University and French technological research organization CEA.

"This funding represents a strong achievement in the young history of Cytoo: the company has now the financial means for turning its technological advantage into a commercial success," Franck Lescure, partner at Auriga Partners and member of the supervisory board at Cytoo, said in a statement.

Two year ago Cytoo raised $4.7 million in a second funding round.