MIMETAS raises funds for organ-on-a-chip technology

Dutch biotech MIMETAS has raised $5.2 million to fund its expansion as a global leader in organ-on-a-chip technology. Venture capital investors Zeeuws Investerings Fonds (ZIF) and Participatiemaatschappij Oost Nederland (PPM Oost) have joined forces with national and regional partners to fund development and sales of MIMETAS’s 3D disease and tissue modelling technologies.

According to MIMETAS co-founder and Chief Business Officer Jos Joore, “The funds will be used to scale up the production of OrganoPlates and strengthen our activities in predictive preclinical model development, thus consolidating our leadership in this highly competitive field.” The company’s OrganoPlates are microfluidics‐based culture plates that enable the culture and screening of a range of organ and tissue models.

MIMETAS currently has a range of disease, toxicology and ADME models in its pipeline, in various stages of development and validation. PPM Oost CEO Marius Prins noted, “Significant value creation through better disease models with reduced laboratory animal use is highly relevant to our fund. In addition, this strategic investment helps us to pair two top technology clusters in the Netherlands in one thriving enterprise: biotechnology at the Leiden Bio Science Park and microfluidics at Twente University.”

ZIF Managing Director Johan Sebregts meanwhile said his company “immediately recognised MIMETAS’ large upside potential” and is thus supporting MIMETAS “not only with capital, but also through the vast expertise of our shareholders that include Dutch captains of industry”.