Home » Funding & investments » ClexBio Oversubscribes Financing Round Totalling USD 2.2M to Develop Engineered Human Blood Vessel Transplants

ClexBio Oversubscribes Financing Round Totalling USD 2.2M to Develop Engineered Human Blood Vessel Transplants

OSLO, Norway–(BUSINESS WIRE)–ClexBio, a start-up developing bioengineered human blood vessels for transplant, has secured US$2.2m in seed funding from private investors and governmental grants.

“The broad backing we have received from international A-level angel investors and top research institutions are strong endorsements of our technology platform and global ambition to transform the engineering of human tissues. We are excited to change the paradigm in this space with the funding we have received,” said Dr. Armend G. Håti, Co-Founder and CEO of ClexBio.

With the raised capital, ClexBio will develop an entirely new type of patient-specific bioengineered blood vessel transplants to address a huge unmet clinical need. Their revolutionary approach promises to provide a cure for prevalent vascular diseases that, as of today, cannot be treated adequately.

The development of blood vessel transplants is facilitated by the company’s proprietary Competitive Ligand Exchange X-Linking (CLEX) technology that represents a breakthrough in the ability to manipulate delicate living cells at the microscale, a prerequisite for recreating functional biological tissue architectures in the lab.

“With our exceptionally talented team and our breakthrough technology platform, we have a unique advantage in solving the grand challenge of engineering functional vascular tissue transplants that are 100 percent human,” said Dr. Manuel Schweikle, Co-Founder and CSO of ClexBio.

ClexBio’s research-heavy team brings many years of experience from top US and European universities and research institutes including Harvard University, Yale University, the Wake Forest Institute for Regenerative Medicine, EPFL, the technical University of Munich, NTNU, the University of Oslo, and SINTEF. Today, ClexBio is already commercializing early R&D applications of its unique solution in partnership with Cambridge-based single-cell analysis pioneer Sphere Fluidics (visit: https://spherefluidics.com/microfluidic-hydrogel).

ClexBio’s US$2.2m financing includes an oversubscribed private investment round, in which the company raised US$1.2m from high profile angel investors across Europe and Asia, including board members of Global Fortune 500 healthcare companies and senior executives from within and outside the biotech industry. In addition, the company has secured US$1m in non-dilutive grants from the Research Council of Norway, the UK Engineering and Physical Sciences Research Council, Innovation Norway, and the Centre for Digital Life Norway.

About ClexBio

ClexBio is a Norway-based biotech company creating breakthrough solutions for tissue engineering and single-cell techniques by combining advanced bio-fabrication approaches with its proprietary hydrogel technology CLEX.

For inquiries, please contact contact@clexbio.com. Find out more at www.clexbio.com and follow ClexBio on LinkedIn. ClexBio is legally registered in Norway as Nordovo Biosciences AS.

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