Cytena and its cy-Clone device to separate single cells received €1.1M from a consortium made up of a private investor and the High-Tech Gründerfonds (HTGF). Cytena will use this capital injection primarily to launch its product and to expand its marketing and distribution activities.
The cy-Clone, cytena’s newest innovation, is a laboratory device that enables the gentle separation of cells. In order to set up its marketing and distribution channels and to standardize its production processes, the German company required start-up capital. “During our fundraising we greatly benefitted from the fact that since 2010 our laboratory units have helped a number of our partners to simplify their processes. In addition, cytena has already been generating revenue”, says Jonas Schöndube, founding member and managing director of cytena, adding, “This is a very convincingly proved that there is a real need for our technology.”
The seed capital raised will enable the Freiburg-based company to make the most of their technological advantage over competing technologies and to transition from producing each cy-Clone unit and its consumables individually to serial production. At the same time, cytena’s marketing and distribution channels will be widened more rapidly.
André Gross, founding member and technical director of cytena, said: “Currently, we are in particularly close contact with cell line development units in the pharmaceutical industry. Obviously, efficiency and cell viability are key, but quite often these customers also need to fulfill the requirements set by regulatory bodies such as the FDA. Our competitors’ systems are complex and expensive, and cannot prove clonality or safeguard against cross-contamination. In addition, a substantial amount of training is required to operate them. Users wanting to avoid all of these complications and inconveniences should use our unique technology.”
As Dr. Sebastian Schöfer from HTGF explained, the global market potential for single-cell technologies is estimated to top €360M. Moving forward, cytena will focus on further developing the platform technology for cancer and prenatal testing units as well as units for the production of cell therapeutic drugs. “These areas of application will unlock a much larger market,” added Dr. Schöfer, explaining HTGF’s reasoning to invest.
In our Labiotech Tour in South Germany we have the opportunity to chat with this raising star company, check out the interview: