€6 M to develop and launch a kit dedicated to sample preparation for single-cell RNA-sequencing
Paris-based biotechnology startup raises Series A financing
Scipio bioscience, a Paris-based biotechnology company, developing a new generation of single-cell sequencing solutions, announces that it has secured a €6.0 M Series A financing from an international syndicate led by M Ventures (Amsterdam, The Netherlands), the corporate venture capital arm of Merck. The initial shareholders Seventure Partners’ Quadrivum I (Paris, France) and High-Tech Gründerfonds (Bonn, Germany) participated in the capital increase, alongside additional investors Financière Arbevel (Paris, France) and investiere (Zürich, Switzerland).
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"There is a substantial unmet need for cost-effective single-cell sequencing methods. The availability of such methods will drive 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", said Arnaud Autret, Investment Principal at M Venture.
"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", said Philippe Tramoy, Partner at the Quadrivium 1 seed capital fund at Seventure Partners.
"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 (Brain & Spine Institute, Paris, France) 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", said >Prof Stuart Edelstein, President & CSO of Scipio.
The €6.0 M 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.
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