Axiogenesis has acquired investment from Sino-German High-Tech Fund (SGHF) to expand product development and strengthen its disease modeling capabilities
SGHF’s initiative signing ceremony was chaired by the German Chancellor Angela Merkel and the Chinese Prime Minister Li Keqiang in 2015. Up to €300m are to be invested in German technology companies over the next five years through SGHF.
Alex Liu, managing director of SGHF, said: "Axiogenesis is a leading provider of pure, tissue-specific cell types derived from human induced pluripotent stem cells.
“Through its innovation, efficiency, scientific excellence and patent position we expect that they will make a large and lasting impact in this already quickly growing field."
Axiogenesis said the investment will accelerate growth of its products and applications in the pharmaceutical, cosmetic and chemical industries and will also allow the company to continue moving towards improvement in the stem cell business whilst significantly investing in new product development and disease modeling capabilities.
The current product portfolio of Axiogenesis includes several validated induced pluripotent stem cell (iPSC) derived cardiac and neural cell types.
This year the company said smooth muscle cells, beta-islet cells, sensory neurons and several new variants of its Cor.4U cardiac product will be launched.
Axiogenesis can give unbiased expert advice in positioning, setting up, validating and troubleshooting assays. The company is a preferred partner to pharmaceutical companies and CROs in particular.
Bernd Fronhoff, CFO of Axiogenesis, said: "Axiogenesis may very likely be the first biotech company worldwide to become profitable in the iPSC-derived cell business model.
“We have managed this through a combination of excellent science, stringent focus and high efficiency in product development and production."