AI Biotech Secures Funding to Speed Up Stem Cell Therapy Development
CellVoyant has raised £7.6 million in seed funding to speed up the development of novel cell therapies.
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CellVoyant—an artificial intelligence (AI) first biotechnology company spun out of the University of Bristol—has raised £7.6 million in seed funding to speed up the development of novel cell therapies. According to a Jan. 16, 2024 press release, the funding was led by Octopus Ventures and included Horizon Ventures, Verve Ventures, and Air Street Capital as participants of the funding round.
The biotech’s primary aim is to use its platform, which combines advanced AI with live cell imaging, to develop novel stem cell therapies in a cost-effective way while also improving reliability and speed of development. While there are promising applications of stem cell therapies, the science behind these options is complex and unpredictable and development tends to have high attrition rates.
“Cell therapies have the potential to revolutionize the way we treat diseases that affect millions of people every year,” said Rafael E. Carazo Salas, CEO and founder of CellVoyant, in the press release. “By combining the latest advances in AI and live cell imaging, we can help bring these transformative treatments to the market quickly, reliably, and cost-effectively. [This funding] milestone validates the potential of our approach and will help us to accelerate our R&D capabilities.”
“University spin-outs like CellVoyant are at the heart of the UK’s thriving biotech ecosystem,” added Uzma Choudry, lead biotech investor at Octopus Ventures, in the press release. “CellVoyant sets a new standard in precision and reliability for predicting and controlling stem cell behavior, which will make cell therapies more accessible to those who need them. We are thrilled to invest into a company that is transforming how patients can benefit from life-changing treatments.”
With the seed funding raised, CellVoyant will scale up its operations, including doubling the team size over the next two years, expanding laboratory and experimental infrastructure, and advancing AI capabilities.
Source: CellVoyant
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