German innovative organ-on-chip specialist Dynamic42 GmbH has closed a mid-seven-figure financing round. The company, which was spun off from the “Center of Sepsis Control and Care” of the University Hospital Jena (Germany) in March 2018, was able to convince both the previous lead investor bm-t beteiligungsmanagement thüringen gmbh (bm-t) and a family office from the health sector to invest and support the growth, development and vision of the company in the coming years as part of a growth financing round (Series A).
With the investment, Dynamic42 will continue the further development of products and services, open new markets, recruit highly qualified personnel, further develop the company infrastructure as well as expand the property rights portfolio and sales infrastructure. An important milestone in the coming years will be the company´s internationalization, including entering the USA as the world’s largest pharmaceutical market.
Decisive for the investment was above all the added value that Dynamic42 generates with its technology and its use for society, such as the increase of drug safety, the reduction of drug development costs and the reduction of animal testing. Here, Dynamic42´s technology offers a very good alternative to current systems used in the development of active compounds and has a high market potential.
“We can proudly announce that we have created an up-and-coming company and are extremely pleased about this strategically important investment. In times of a more challenging investment market, it is a strong signal for us that our technology and vision possess high potential,” said Managing Directors Dr. Martin Raasch and Dr. Knut Rennert.
Dynamic42 offers its customers miniaturized human organ models (so-called organ-on-chip / microphysiological systems) for drug testing. Dynamic42 is unique on the market due to its flexible and easily created customer-specific solutions based on its innovative technology platform.
In addition, Dynamic42 is able to integrate essential components of the human immune system into its human organ models and investigate their influence on drug compatibility. Customers can thus make initial judgements about the toxicity of drug candidates in humans even before animal testing in the preclinical phase of drug development and decide whether to continue or stop the development of an active substance.
“Dynamic42 GmbH has grown steadily since it was founded five years ago and has already been able to win well-known pharmaceutical companies as customers. We are convinced that Dynamic42, with its strong technology platform and motivated team, will play a leading role in the rapidly growing organ-on-chip market in the future,” said Stefan Jahn, Senior Investment Manager at bm-t.
Read the orginal article: https://www.eu-startups.com/2023/06/german-organ-on-chip-specialist-dynamic42-raises-series-a-financing-round-to-expand-internationally/
