QGel Raises $12M Funding Led by Private Investors
QGel, a biomaterials company with advanced solutions for pharmaceutical drug discovery, announced today the closing of a $12 million financing in new capital. This latest round, adding to $8.5 million from previous financing rounds, was led by new private investors, and includes continued participation from existing investors. The financing will be used to accelerate QGel’s global expansion to service clients internationally, and broaden the company existing line of products.
Thanks to its proprietary technology platform, QGel develops and commercializes synthetic gels for 3D in vitro growth of miniature human organs (“organoids”) and tumors (“tumoroids”) that mimic original organs and tumors in certain structure and functions, in a highly scalable way. QGel technology gives scientists the ability to test new drugs on patient tissues providing pharmaceutical companies with a novel toolset to uncover the next generation of drugs. QGel currently commercializes 3D in vitro disease models for many different cancer types including brain, breast, colon, kidney, lung, ovarian, pancreas, placenta, prostate and skin cancers.
In a recent study co-authored by QGel co-founder Prof. Matthias Lütolf, and conducted in his lab at the Swiss Federal Institute of Technology in Lausanne (EPFL), Switzerland, QGel technology enabled scientists to investigate and identify the factors that influence the stem cells of the gut to form intestinal organoids and colon tumoroids. The study was published in November 2016 in Nature, Designer matrices for epithelial stem cell and organoid culture.
Speaking about the fundraising announced today, Colin Sanctuary, co-founder and CEO of QGel declared, “QGel has created a disruptive technology platform that allows scientists to grow human cells and tissues in a lab or “in vitro” so that the cell growth mimics behavior that is normally only observed inside the human body. Since the foundation of QGel in 2009, we have developed manufacturing capabilities that ensure the supply of industry-grade hydrogels that meet the strict requirements of drug discovery. Backed by solid science, QGel’s scalable solutions will help pharmaceutical and biotech companies to exploit patient-derived tissue for organoids to test drugs and drug combinations, using methods that are compatible with automated workflows. This fundraising will help us continue our partnerships with pharmaceutical companies, and help guide their development of therapies for millions living with and affected by cancer worldwide.”
Founded in 2009 in Lausanne, Switzerland, QGel develops and commercializes extracellular matrices (ECMs) that promote the 3D growth of miniature human organs and tumors in vitro providing pharmaceutical companies and research centers with a scalable and reproducible toolset to test new drugs on patient-derived tissue. QGel’s synthetic ECMs combine unique biological, biophysical and biochemical components inspired by the native environment of cells in vivo in order to promote growth of human tissue in the lab.
Source: QGel Press Release