Emulate, Inc. today announced that it has expanded its Series B financing with an additional $17 million in equity funding, bringing the total amount raised in the Series B round to $45 million. The expanded funding from the Series B financing will be used to augment the translation of Emulate’s Organs-on-Chips technology into a commercially available Human Emulation System™. The lab-ready system includes Organ-Chips, instrumentation and software apps and is designed to provide a new R&D platform that predicts human response to diseases, medicines, chemicals and foods with greater precision and detail than cell culture or animal testing experimental methods.
The expansion of the Series B funding positions Emulate to accelerate its R&D efforts, expedite the launch of its products and expand strategic relationships with industry and academic partners in order to evolve the company towards profitability. New investors in this Series B expansion include private individuals, institutional and non-institutional funds, complementing the diverse syndicate of initial investors in the Series B round, including existing investors Hansjörg Wyss, NanoDimension, Cedars-Sinai Medical Center, OS Fund, Atel Ventures, ALS Finding a Cure (a program of the Leandro P. Rizzuto Foundation), and Laboratory Corporation of America® Holdings (LabCorp®).
“We are excited to expand this Series B financing to include the support of a wide group of such high-quality investors who are aligned with our vision to commercialize the Organs-on-Chips technology. The funding will help accelerate product development cycles, and improve product efficacy and safety across a range of industries – including pharmaceutical, chemical, food and consumer products companies,” said James Coon, Chief Executive Officer of Emulate. “We are rapidly moving toward launching our Human Emulation System to the next stage of commercial development, so that our technology will operate as a plug-and-play system in the hands of product development teams and researchers around the world.