Ncardia Announces Completion of 10.5M Euros Investment Round

GOSSELIES, Belgium--(BUSINESS WIRE)-- Ncardia, an emerging drug discovery and development stem cell technology company whose mission is to deliver cardiac and neural solutions based on its best-in-class human induced pluripotent stem cell (iPSC)-derived technology, today announced the completion of a €10.5 million series B financing round. The round was led by Épimède, a Belgium venture capital firm.

Ncardia is a privately-held company with operations in Europe and the US, that produces and commercializes high-quality, fully-functional human iPSC-derived cardiovascular and neuronal cell types. Using its cell products, Ncardia develops and commercializes assay services for drug safety and efficacy testing. Additionally the company has built up a strong portfolio of patents covering the use of stem cell models for these applications.

Stefan Braam, CEO of Ncardia, commented: “At Ncardia, important progress has been made on product and service programs for drug safety and efficacy screening. We have built strong and dedicated teams, to execute our plan to become the trusted leader in human iPSC-based drug discovery solutions. I am delighted with the continued support from our current investors and I am very happy to welcome Épimède as our new investor.”

Marc Foidart, Investment Manager at Épimède said: “Ncardia has had a very strong and encouraging start. We are convinced of the added value Ncardia will deliver in the coming years. We are very pleased to join the strong syndicate of existing investors and to support Ncardia growth acceleration.”

The participants in this funding round include Épimède, InnovationQuarter, SRIW, SambrInvest, Vesalius Biocapital and SFPI-FPIM. The funds raised will be used by Ncardia to speed-up its already promising international growth, to develop the next generation safety assays and to expand capabilities in the cardiovascular drug discovery and high throughput screening domain.

Ncardia (www.ncardia.com) believes that stem cell technology will help to get better medicines to patients faster. The company develops, produces and commercializes highly-predictive human cellular assay systems for safety and efficacy testing. The product portfolio encompasses frozen cardiac and neural products, as well as the Cardioplate^TM, consisting of quality-controlled, ready-to-use assay plates.

Ncardia is committed to delivering to its clients working assays solutions through in-house assay development and extensive support. In addition, Ncardia develops and provides its customers with a broad portfolio of cardiovascular services from disease modeling to cardiovascular drug efficacy screening.

Ncardia is based in Belgium, the Netherlands, Germany and the USA. The company is privately held and has been established following the merger of Pluriomics and Axiogenesis.

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