– FRANCE, Paris – Scipio bioscience, a Paris-based biotechnology company, developing a new generation of single-cell sequencing solutions, announces today that it has secured a €6M Series A financing from an international syndicate led by M Ventures, the corporate venture capital arm of Merck. The initial shareholders Seventure Partners’ Quadrivum I and High-Tech Gründerfonds participated in the capital increase, alongside additional investors Financière Arbevel and investiere.
The €6M Series A funding will fuel the final development of its single-cell RNA-sequencing kit, as well as marketing and business development efforts to prepare for commercial launch in 2022.
“There is a substantial unmet need for cost-effective single-cell sequencing methods. The availability of such methods will drive the single-cell market growth globally, both in the basic and clinical research fields. Scipio bioscience is pioneering affordable single-cell sample preparation for sequencing. We fully support the team to deliver a much-needed solution based on their disruptive technology and to grow Scipio bioscience into a major player in single-cell biology” says Arnaud Autret, Investment Principal at M Ventures.
Philippe Tramoy, Partner at the Quadrivium 1 seed capital fund at Seventure Partners, adds: “We are thrilled that our seed investment in Scipio’s truly deep tech project was crucial to turn its disruptive technology into a potential game-changer. We look forward to getting to the next phases of development. “
Prof Stuart Edelstein, President, said: “We are convinced that our user-friendly kit, requiring no specific equipment and accessible for any benchtop, will enable thousands of additional scientists to perform single-cell RNA-sequencing. This availability will change the way biological questions are addressed and ultimately benefit both basic research and clinical applications. We are delighted to initiate collaborations for beta-testing of our kit, initially with ICM laboratories, as the interactions so far with its world-class teams and cutting-edge core facilities have been extremely fruitful. Our goal is to extend collaborations to leading European research institutes.”
About Scipio bioscience
Scipio bioscience develops a new generation of single-cell sequencing solutions, to answer the growing needs of clinical and basic research labs. The patented technology is based on an innovative chemical approach conceived by its President and Co-Founder, Prof Stuart Edelstein, a world-renowned biophysicist. Pierre Walrafen, PhD, CEO and Co-Founder of Scipio Bioscience, directs a team composed of scientists with expertise in molecular biology, chemistry, and bioinformatics. The company, hosted in the iPEPS-ICM incubator of the Brain & Spine Institute, has developed the protocol from the initial proof-of-concept studies to a prototype kit ready for beta-testing by collaborating research teams. Scipio bioscience was supported by a grant from the Région Île-de-France and the Programme d’Investissement d’Avenir, operated by BPI France.
For more information: http://www.scipio.bio
About M Ventures
M Ventures is the strategic, corporate venture capital arm of Merck. Its mandate is to invest in innovative technologies and products with the potential to significantly impact the company’s core business areas. From its headquarters in Amsterdam and offices in the US and Israel, M Ventures invests globally in transformational ideas driven by great entrepreneurs. M Ventures takes an active role in its portfolio companies and teams up with entrepreneurs and co-investors to translate innovation towards commercial success.
For more information: https://www.m-ventures.com
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