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October 21, 2008
Cellix Raises $1.4M in Second-Round Funding to Develop Cell-Based Screening Platform
Cellix, a Dublin, Ireland-based developer of cell-based screening tools, said today that it has raised €1.1 million ($1.4 million) in second-round investment.
The company previously raised €800,000 in December 2006.
Cellix said that the new financing, provided by NCB Ventures of Ireland and OTC Asset Management of France, will enable it to accelerate development and commercialization of its Venaflux screening platform to address a range of therapeutic areas, including atherosclerosis, diabetes, oncology, and autoimmune disorders.
VenaFlux measures cell adhesion to antibody-coated or endothelial-cell cultured microchannels in order to mimic human blood flow. The company said that it is seeing "significant growth" for the platform, which is currently in use at AstraZeneca, Pfizer, Sanofi-Aventis, and Servier.
Cellix will use the financing to support continued R&D "as well as further expansion into international markets."
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