The Cambridge-based human synthetic biology company will use the funds to accelerate the development of its technology, which reduces reliance on animal testing.
Cambridge-based human synthetic biology company bit.bio has raised $50 million (£37.2 million) led by M&G Investments.
The funding will enable bit.bio to accelerate the development of, and access to, its products, scale its operations globally, expand into the multi-billion dollar toxicology market, bolster its manufacturing operations and generate industry-leading datasets for AI model training.
The company’s human cell products are used by leading pharmaceutical and biotech companies and academic institutions globally. Through the creation of human cells and models for research, drug discovery, and toxicology, bit.bio uses advanced cell-based and computational models instead of animal testing, and hopes to reshape how medicines are developed with greater predictiveness.
“By providing reliable human cells for research and safety testing, we’re helping to accelerate drug development and build a world-class life sciences business in the UK,” said chief executive Przemek Obloj.
“Our technology reduces reliance on animal testing while improving the relevance and accuracy of pre-clinical research,” he added.
As part of the deal, David Prior, who has held leadership roles in UK life sciences innovation, health policy and governance for more than two decades, joins as an independent director and new board chair.
bit.bio has now raised $622 million in six rounds of funding. Its last round was $20 million in mid-December 2024, again led by M&G Investments.
