Scinus Group Raises €3 Million in Strategic Funding Round
Scinus Group, based in Utrecht, Netherlands, has successfully raised €3 million in a strategic funding round. The investment, led by Myosotis Investments, aims to bolster the global rollout of Scinus Group's Osilaris™ cell expansion platform. This platform is designed to streamline the cell culture process in advanced cell therapy manufacturing, providing a scalable and automated solution.
Investors and Leadership
The funding round was spearheaded by Myosotis Investments, with additional participation from existing shareholders, including the Demcon Innovation Fund. Erik Vossenaar, the current CEO and Executive Director of Scinus Group, expressed the significance of this investment, stating that it marks a pivotal step in the company’s growth and operational enhancement.
In tandem with the new funding, Dr. Janeska de Jonge will join the board as a non-executive director, representing Myosotis Investments. A third board member is anticipated to be appointed shortly.
Strategic Use of Funds
The €3 million investment will primarily support the commercialization of the Osilaris™ platform in key international markets. The company plans to enhance its organizational structure and operational capabilities, ensuring it can meet the demands of a global market.
Scinus aims to overcome existing bottlenecks in cell therapy production with its proprietary bioreactor technology. The Osilaris™ platform features a closed, automated system that allows for dynamic cell expansion, promising higher yields and improved consistency in manufacturing.
About the Osilaris™ Platform
The Osilaris™ cell expansion platform is already in use across Europe, installed at several academic and commercial facilities. It supports a wide range of applications, including CAR-T and CAR-TCR therapies, mesenchymal stem cells, and viral vector production. The system's closed nature reduces contamination risks and lowers the need for manual handling, which in turn decreases media consumption and labor costs.
Scinus Group, founded in 2016 after a demerger from Xpand Biotechnology, continues to make strides in making cell therapies more accessible globally. With this latest funding round, the company is well-positioned to advance its mission and expand its reach in the cell therapy market.