Building on traction in UK and Europe, Carcinotech plans expansion in the US
In the list of all vertical industries adopting AM technologies, our recap of the year 2023 revealed that the medical and healthcare industries were the segment that drove the most the adoption of AM. Based on the developments already observed in this field since the beginning of the year, that trend continues.
Carcinotech, a MedTech startup founded in 2018, has recently raised $5.3 million of funding to expand its activities. The company manufactures 3D-printed micro-tumors, using cells derived from patient biopsies and blood samples to precisely simulate the tumor microenvironment, accelerating ethical drug screening and the delivery of more effective cancer treatments to market.
St Andrews-based Eos Advisory (Eos) led the investment alongside the Investment Fund for Scotland (IFS) managed by Maven Capital Partners, Scottish Enterprise, Old College Capital, Investing Women Angels, and existing investors TRICAPITAL, SIS Ventures, Gabriel Investment Syndicate, and Alba Equity.
Ishani Malhotra, CEO and Founder of Carcinotech, said: “Our vision is to be at the forefront of cancer drug testing and provide personalized medicine testing to every individual suffering from cancer to improve their treatment and chance of survival. Working with global partners, leading pharma companies, surgeons, pathologists, and clinicians, Carcinotech aims to significantly accelerate oncology drug development.”
The announcement follows a recent partnership with Gothenburg-headquartered CELLINK, whose bioprinting solutions will be used to produce bioprinted living tumors to develop cutting-edge cancer models.
Globally, an estimated 19.3 million cancer cases occurred in 2020 alone, with a fatality rate of almost 10 million cancer deaths, with breast (11.7%), lung (11.4%), colorectal (10%) and prostate (7.3%) being the most fatal. While cancer continues to affect millions, there are still a limited number of effective therapies available, and those that are available have a high degree of variation from patient to patient.
With strong industry partnerships in Europe, Carcinotech now plans to expand in the US.
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