DenovoMatrix binds funding

DenovoMatrix, a Germany-based stem cell production aid spinout of Dresden University of Technology (TU Dresden), received an undisclosed sum on Wednesday in a round backed by public-private partnership High-Tech Gründerfonds (HTGF).
Technologiegründerfonds Sachsen,  a regional VC initiative supported by the EU, financial services firms Sparkassen-Finanzgruppe and Bürgschaftsbank Sachsen, and the government of Saxony, also supplied capital.
Founded in August 2018,  DenovoMatrix is aiming to commercialise biomimetic coatings and related technologies that support human stem cell production so that more stem-cell based therapies are successful.
The additives would help biopharma researchers solve the problem of inconsistent stem cell cultivation rates, which can impair the effectiveness of therapies based on the technique.
DenovoMatrix’s first product, a coating screening platform called ScreenMatrix, is already on sale. The cash will help bring projects including cell production environment MyMatrix closer to market.
The spinout’s advisory team includes Yixin Zhang, a professor for biomolecular interaction at TU Dresden’s B Cube Center for Molecular Bioengineering.
Fabian Mohr, investment manager of HTGF, said: “In order to be able to offer stem cell therapies in the future, manufacturers must keep their variability in the cultivation of cells low.
“DenovoMatrix and its solutions will provide a good basis for the translation of stem cell therapies from research into everyday clinical practice.”