Mimetas Secures $20M in Series B Financing with ELSGF, Aglaia Oncology Fund II, Korys

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Posted: 31st May 2018 by
Louisa Rochford
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MIMETAS, leader in organ-on-a-chip products and tissue models, has secured 20.5 million USD in financing from an international syndicate from Asia and Europe. Mimetas will use the proceeds of this Series B financing round to expand its global commercial footprint with the OrganoPlate® organ-on-a-chip platform. In addition, the company will broaden its product portfolio, establish tissue production facilities, develop novel OrganoPlate® products and expand into clinical market segments, including personalised medicine. The company has operations in the Netherlands, USA and Japan.

Investors are European Life Sciences Growth Fund (ELSGF, Singapore), Aglaia Oncology Fund II (the Netherlands), Korys (Belgium), Cathay Venture (Taiwan), InnovationQuarter and Oost NL (the Netherlands).

Ginger Hsiao, fund manager of ELSGF, acting as spokeswoman for the syndicate: “From the start, we were impressed by MIMETAS’s technology and highly talented team. We consider the company as today’s leader in the organ-on-a-chip space with tremendous growth potential in the coming years. Its customer base already includes leading multinationals from Europe, US and Asia and the adoption of the platform ranges from academic users to high-throughput screening facilities for pharmaceuticals. We are looking forward to supporting the MIMETAS team with their commercial expansion and addressing new markets.”

“This strong investor base ticks all the boxes for MIMETAS in this phase of corporate development.”, according to founders Jos Joore and Paul Vulto, “Korys has solid expertise in product commercialization at the interface of hardware and biology, while Aglaia brings a wealth of clinical and oncology expertise to the company. ELSGF and Cathay will support the company in expanding in the Asian market. This is complemented with local support from Oost NL and InnovationQuarter.”

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