Key Highlights
- Significant Series A Funding: Mytos closes $19M in Series A financing, led by Buckley Ventures.
- Revolutionizing Cell Production: Aiming to automate the labor-intensive process of human cell production, crucial in drug development.
- Expanding Access and Efficiency: Plans to enhance distribution to biotech and pharma companies and improve drug development timelines.
Source: Business Wire
Notable Quotes
- “With our automated system, our customers love the fact that it’s a simple setup, and they can check how their cells are growing on the weekends from their phone instead of going into the lab.” – Ali Afshar, CEO & Co-Founder at Mytos
- “Mytos’ unique approach to cell manufacturing is simple and easy to set up… It combines intricate fluidics, high-performance microscopy, and temperature control, to ensure precise and efficient hands-free cell culture.” – Wali Malik, Senior Director, Lab Automation at Tessera Therapeutics
- “Mytos has developed a system that totally automates mammalian cell culture – one of the most painful but important processes in biology. We believe they can revolutionize an entire industry.” – Jonathan Choi, Partner at Buckley Ventures
SoH's Take
The $19 million Series A funding secured by Mytos heralds a new era in automated cell manufacturing, setting the stage for groundbreaking advancements in biotech and pharmaceutical research. Mytos’ innovative approach addresses a critical bottleneck in drug development: the laborious, time-consuming process of human cell production. By automating cell culture, Mytos not only enhances efficiency and consistency in cell quality but also empowers scientists with remote monitoring capabilities, freeing up valuable research time. This advancement promises to accelerate the pace of drug development, offering a much-needed solution to the industry’s demand for faster, more reliable methods. The potential impact of Mytos’ technology extends beyond immediate research efficiencies, paving the way for advancements in personalized medicine and cell therapy manufacturing. This funding is a testament to the industry’s recognition of the need for technological innovation in critical areas of pharmaceutical research and development.
