3 million in Series‑A for growth and development of Cytena
Freiburg — High-Tech Gründerfonds (HTGF) and two private investors are convinced of the importance of cell separation for the production of biopharmaceuticals and for genetic analyses in research and diagnostics. 3 million will be invested in the further development of the technology, the expansion of sales structures and the development of additional fields of application for Cytena GmbH’s single-cell printer.
The analysis of single biological cells has rapidly gained importance in recent years. Single cells are used in the development of modern drugs, so-called biopharmaceuticals, as well as in cancer and stem cell research. Cytena’s family of single-cell printers are laboratory instruments for handling and sorting single, vital cells. They represent an innovative tool for the life sciences and make a lasting contribution to the development and acceleration of new therapies.
“The technological advantage of the single-cell printer over competing products does not mean that we can rest on it. Our goal is rather to understand and serve the needs of the customer better and better. The new capital creates an important basis for this,” says Cytena CFO Benjamin Steimle. In addition, the investment will help to capture further market share. Although the majority of the world’s ten largest pharmaceutical companies are already customers of the Freiburg-based start-up, there is still a very large global market potential waiting to be tapped.
Important milestones on this path so far have included the recently concluded sales cooperation with an American company and the expansion of the product family to include the x.sight devices. “The current round of financing now puts us in a position to accelerate the next steps for Cytena’s success story,” Steimle said.
Dr. Lena Krzyzak, Investment Manager at HTGF: “With our Series A investment, we want to build on the previous growth success of the seed funding. The company has developed rapidly and we have great confidence in the management team for further market expansion and product development.”
CytenaTM is an established life science start-up. Spun off from the Freiburg Institute for Microsystems Engineering (IMTEK) in 2014, Cytena mainly sells solutions for cell handling. The Cytena team has developed the patented single-cell printerTM technology, which allows the separation of cells in a documented, gentle and sterile process. The single-cell printers have been manufactured in Germany and marketed worldwide since 2015. In 2018, the technology was expanded to include the x.sightTM range of devices. A large proportion of the top ten pharmaceutical companies use single-cell printers to produce clonal cell lines for antibody production.
About High-Tech Gründerfonds
The seed investor High-Tech Gründerfonds (HTGF) finances technology startups with growth potential. With a total volume of 892.5 million euros distributed across three funds and an international partner network, HTGF has already supported more than 500 startups since 2005. His team of experienced investment managers and startup experts supports the young companies with know-how, entrepreneurial spirit and passion. The focus is on high-tech start-ups in the software, media and Internet sectors, as well as hardware, automation, healthcare, chemicals and life sciences. More than EUR 2 billion in capital has been invested in the HTGF portfolio by external investors in around 1,400 follow-on financing rounds to date. The fund has also successfully sold shares in more than 100 companies.
Investors in the public-private partnership include the German Federal Ministry for Economic Affairs and Energy, KfW, and 32 commercial enterprises.