Celvivo raises $6.6M to scale 3D cell culture platform, names new CEO
What's the deal? Danish biotech Celvivo has raised $6.6 million to accelerate the commercial expansion of its ClinoStar 3D cell culture platform. The round was backed by existing investors EIFODealroom has a profile for this one. Try Dealroom → and T&W HoldingDealroom has a profile for this one. Try Dealroom →, each contributing $2.2 million, alongside new investor VOMA HoldingDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Celvivo wants to establish itself as a leading provider of advanced 3D cell culture technology for life-science research. Its ClinoStar platform produces relevant, abundant, reproducible, and easy-to-use 3D cell cultures, meeting rising demand for more sophisticated models in pharmaceutical and biotech research.
Who's steering? Jacob Philipsen has been appointed chief executive officer, joining from Advalight, where he took the company from pre-revenue to sales in more than 50 countries. He succeeds Peter Willems-Alnøe, who led Celvivo from 2018.
Why now? The raise follows a year of revenue growth and expansion of Celvivo's commercial organisation across direct, indirect, and inside sales. VOMA Holding is led by Ole Vorm, co-founder of ProtanaDealroom has a profile for this one. Try Dealroom →, MDS ProteomicsDealroom has a profile for this one. Try Dealroom →, ProxeonDealroom has a profile for this one. Try Dealroom →, and Evosep, who joins the board as an observer.
"I've spent my career building tools that researchers rely on every day and I recognize in Celvivo's ClinoStar platform the same kind of potential I've seen succeed elsewhere," said Vorm.
The signal: EIFO frames the deal as a bet on a thinly funded niche. "We're seeing more specialized funds investing in pharmaceutical development, but only a few turn to life science tools and diagnostics," said Tonni Bülow-Nielsen, partner in EIFO's life science team, adding an ambition to build a Danish cluster around next-generation drug technologies.
Read more: indianpharmapost.com
Image credit: Generated with Gemini
