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Definigen Closes $3.8M Series A Round

NEW YORK (GenomeWeb News) – Cambridge, UK-based Definigen said today that it has raised a total of £2.3 million ($3.8 million) in a Series A round of funding.

The stem cell products firm said that it closed the round after the most recent investment of £1 million led by Cambridge Enterprise and 24 Haymarket, with additional participation from existing investors Abcam, Providence Investment Company, Cambridge Capital Group, and Jonathan Milner. New investors in the round included LBA, Wren Capital, and Ranworth Capital.

Definigen said that it would use the funds to expand its direct commercial presence in Europe, North America, and the Asia-Pacific region; invest in automating its lab facility; recruiting staff; expanding its product line in new areas including human induced pluripotent stem cell-derived hepatocyte types, pancreatic beta cells, and lung cells; and strengthening its IP.

Definigen's platform technology, called OptiDIFF, is a stem cell production platform for generating high-functionality cell types including liver, pancreatic, and lung cells, which can be used as predictive in vitro models in the development of safer and more effective drug therapies.

"The funds raised will allow the rapid development of libraries of human cells customised for genetic and ethnic profiles for drug discovery and regenerative applications," Definigen CEO Marcus Yeo said in a statement. "These advances are generating substantial interest from global pharma."