Nagi Bioscience SA, a Swiss life-science research company that develops a revolutionary technology for drug and chemical in vitro testing, today announced the completion of a € 1.6 million seed funding round. Investors in the round include Switzerland’s main finance venture capital company, Zürcher Kantonalbank, NEST pension fund, and Switzerland and the United States private investors. The funds will be used to complete the production and market access of Nagi Bioscience’s first drug.
Nagi Bioscience was founded in January 2019, a spin-off from the Ecole Polytechnique Fédérale de Lausanne (EPFL),
In the city of Lausanne. Nagi Bioscience has developed a groundbreaking “Organism-on-Chip” platform to revolutionize the way chemicals are screened today for harmful and beneficial effects. This technology is based on the joint use of microfluidics and microscopic worms (the proven biological model C. Elegans) to provide the pharmaceutical, food, cosmetic industry and biomedical research with a more viable alternative to traditional animal testing. This approach complies with the new guidelines for the elimination, reduction and improvement of animal testing, i.e. the so-called “3Rs” standards, and helps the cost and latency of pharmaceutical and chemical science to be significantly reduced.
“Complex product feasibility and safety tests that would take months with conventional animal testing can now be conducted on our microfluidic device in just a few days, at a fraction of their current cost and in a fully automated fashion,” says Dr. Matteo Cornaglia, the company’s founder and CEO. “Nagi Bioscience is a great team of talented people who share the vision of creating a new generation of technologies in the future for quicker, more cost-effective and safe drug and chemical research. The entire team is delighted and proud to bring in fantastic partners who share this dream and provide their skills to boost our technology’s development and widespread use.’
In fact, the company announces Dr. Chris Radloff’s nomination to the Board of Directors. “I have been watching Nagi Bioscience for over a year and I’m excited to be part of the next step of transforming this innovative idea into a company combining life science and microfluidics,” Dr. Radloff says. Chris is a board member and angel investor in several start-ups and brings 20 + years of life-science-tech experience to the venture.