InSphero secures CHF 2 Million in Financing
Zurich, Switzerland, June 13, 2013 – InSphero AG, experts in three-dimensional microtissue technology, have secured CHF 2 Million in Series B financing to ensure future growth of the company in the US and East Asian markets.
Since its founding in 2009, InSphero has established a strong foothold in the 3D cell culture market 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 in 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 expand our automatic production line for tumor and liver microtissue models to keep up with the constantly increasing customer demand.”
