Round led by new private investor with existing business angels
Proceeds to support sales growth and industrialization
Chris Radloff nominated as Chairman of the Board of Directors
Lausanne, Switzerland, November 18, 2020, SEED Biosciences, a life science start-up, today announced its Series A capital raise of CHF 1 million. The capital will support the company’s growth ambitions, product industrialization, and further develop its proprietary technology. The funding round was led by a new tech-savvy investor together with existing business angels from the biotech and lab automation industries. This equity financing raise comes as SEED Biosciences scales to meet strong demand in the single cell biology field, putting the company on track to reach profitability in 2022.
“Our purpose is to help scientists around the world develop safer and more efficient biotherapies faster and at lower costs. Their success is our success. With this funding, we are doubling our team so as to invest more resources into sales and manufacturing,” said Georges Muller, SEED Biosciences’ CEO and co-founder. “Since launching our first product on the market in April of this year, we have helped many scientists in Pharma companies and top-notch research centers to increase their productivity. Using DispenCell, our clients have solved important bottlenecks in workflows such as in single cell cloning, CRISPR gene-editing and single cell omics. This is undoubtedly due to the strength of DispenCell’s technology and data, which guarantee the traceability of the single cell isolation process as well as the preservation of the most precious cells. With the support of a new private investor we’re building upon this winning formula in new markets and with new capabilities.”
A new Chairman with a track record in the liquid handling business
Georges Muller, CEO, welcomes Chris Radloff as new Chairman of the Board of Directors: “Chris is a senior executive with a successful track record of leading global businesses in the laboratory equipment industry creating value and generating profitable growth. Throughout his career, he collected experience as General Manager/CEO in mid-size private organizations as well as in global public Fortune 500 companies. Currently acting as board member in several start-ups, Chris brings to SEED Biosciences its accumulated expertise in developing international markets and driving innovation organically and through partnerships and acquisitions.”
Chris Radloff, newly elected Chairman of the Board to comment on his new role: «I’m part of the SEED Biosciences journey since the first pre-seed round and since then it is a great pleasure to see the dedication and engagement of the start-up team at the StartLab, Biopôle campus in Lausanne. I’m excited that we can accelerate the growth of SEED Biosciences with the completion of the existing financing round. I’m honored to serve as newly elected Chairman and be part of this company in a very attractive market segment. I’m confident that SEES Biosciences will extend the long tradition of liquid handling in Switzerland and apply it to truly attractive and relevant research areas in the life sciences space.»
About SEED Biosciences
SEED Biosciences is an enabler for precision medicine. Our award-winning company has the vision to democratize the use of single cells in biology. To do so, we provide scientists with innovative tools that are gentle with cells, affordable, intuitive and most importantly, compliant with the most stringent regulatory demands. Our first product DispenCell enables scientists to isolate single cell lines 3x faster and 10x cheaper than existing solutions. Our ambition is to set new standards in single cell biology in order to accelerate the translation of precision medicine from research to personalized therapies to the benefit of patients.
Dr Georges Muller, CEO