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News|Articles|March 4, 2020
CN Bio Innovations Secures $9 Million in Funding
Author(s)Pharmaceutical Technology Editors
CN Bio Innovations has raised $9 million (£6.9 million) in investment funding that will be used to support commercial development and strengthen market position in the United States
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According to a March 2, 2020 press release, CN Bio Innovations has raised $9 million (£6.9 million) in investment funding that will be used to support commercial development and strengthen market position in the United States.
Additionally, the company reported that the funding will be used to expand its operations across Europe and drive sales of its products and services including the PhysioMimix platform. Further to the investment news, the company has also revealed that it is relocating and expanding its headquarters to the Cambridge Science Park in the United Kingdom.
“This investment will enable us to focus on the delivery of our business strategy and the company’s commercial growth, while ensuring that we remain at the forefront of the organ-on-chip technologies field,” said Dr. David Hughes, CEO, CN Bio Innovations, in the press release. “We are delighted to have secured this investment from both new and existing investors, which reflects both the potential of our technology and products, as well as the unrivalled experience and capabilities of our team.”
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