Tuesday, 22 May 2018

VitriCell boost up funding over €1 million ($1.2M)

24 January 2018 | News

funds will enable VitriCell to launch the first products based on aseptic vitrification, a new cell cryopreservation method

VitriCell SA, a biotech company reveals that it closed a series A round of fundraising in the second half of 2017 totaling over €1 million ($1.2M).

This consists of equity capital of €712,000 ($872K) from a group of investors comprising Spinventure SA, Gesval, private investors including Jean-Pierre Delwart and members of the Be Angels network, and more than €300,000 ($367K) in the form of grants and loans from the Walloon Region and the WBC incubator.

The Funds raised will enable launch this year of first products based on aseptic vitrification, a new cell cryopreservation method

From February onwards, the company will offer a product that vitrifies embryos in a single 60-second step. Products currently on the market take at least seven minutes in three steps. 

VitriCell also intends to invest in R&D for innovative products adapted to different sectors of the growing cell cryopreservation market.

The process has proven quick, safe and easy to use on preclinical models, saving both time and money.

 

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