Apr 23 2024CN Bio Bayland Capital and founding shareholder, CN Innovations Holdings Ltd, to invest $10 M and $5.5 M, respectively. Investment will expand product development and scaling of the organization to meet increased demand for Organ-on-a-Chip solutions.
The global OOC market’s CAGR is estimated at 30.94%. This growth has been accelerated, in part, by the need for biopharmaceutical companies to improve the efficiency and success rate of innovative drug R&D and recent legislative changes, such as the US FDA Modernization Act 2.0.
We are seeing pivotal growth across our industry, whereby drug developers are increasingly recognising the potential of OOC technology to augment, supplement and optimize their workflows.” Related StoriesHe added: “We have strategically positioned ourselves accordingly to respond to the market needs and are proud to have received recognition from our major shareholder, CN Innovations, and new institutional investors such as Bayland Capital, to drive this vision forward.