Thursday 09th April 2020
Home Technology News Technology News Major fund-raising for Cambridge biotech firms completed

Major fund-raising for Cambridge biotech firms completed

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Three Cambridge life sciences businesses have completed significant fund-raising exercises to help finance expansion.

They come as life sciences companies emerged as one of the more resilient sectors during last week’s slide in the world financial markets.

CN Bio Innovations, a leading cell culture company has raised around £6.9 million and announced the relocation and expansion of its hq to the Cambridge Science Park (photo, right) where it is taking 4,000 sq. ft. of laboratory space. As well as expanding across Europe, CN Bio the firm plans to use the investment to strengthen its position in its key US market and drive sales of its products and services including the PhysioMimix™ platform.

Elsewhere, Evonetix, a synthetic biology company involved in gene synthesis and based at Coldhams Business Park in Cambridge, has closed its Series B funding having raised £23 million to accelerate internal technology development.

Meanwhile, PolyProx Therapeutics, a spin out from the Department of Pharmacology at the University of Cambridge focused on novel biopharmaceuticals for the treatment of cancer, has raised raised an additional £1 million seed capital from new investor, LifeArc.