BOSTON, Mass., October 20th, 2016 – Emulate, Inc. today announced that it has expanded its Series B financing with an additional $17 million in equity funding, bringing the total amount raised in the Series B round to $45 million. The expanded funding from the Series B financing will be used to augment the translation of Emulate’s Organs-on-Chips technology into a commercially available Human Emulation System™. The lab-ready system includes Organ-Chips, instrumentation and software apps and is designed to provide a new R&D platform that predicts human response to diseases, medicines, chemicals and foods with greater precision and detail than cell culture or animal testing experimental methods.
The expansion of the Series B funding positions Emulate to accelerate its R&D efforts, expedite the launch of its products and expand strategic relationships with industry and academic partners in order to evolve the company towards profitability. New investors in this Series B expansion include private individuals, institutional and non-institutional funds, complementing the diverse syndicate of initial investors in the Series B round, including existing investors Hansjörg Wyss, NanoDimension, Cedars-Sinai Medical Center, OS Fund, Atel Ventures, ALS Finding a Cure (a program of the Leandro P. Rizzuto Foundation), and Laboratory Corporation of America® Holdings (LabCorp®).