March 17, 2021 -- Provider of induced pluripotent stem cell (iPSC)-derived cells, media, and characterization services Axol Bioscience and contract research organization Censo Biotechnologies have signed a merger agreement.
The new entity will become a provider of product and service solutions in iPSC-based drug discovery and screening markets, with a focus on neuroscience, immune cell, and cardiac modeling. The new company will offer customers validated, ready-to-use cell lines and a suite of services including expertise, functional data, and customization capabilities, providing shorter lead times.
Under the agreement, Axol CEO Liam Taylor and the Axol senior leadership team will take over management of the combined entity, with the intent to migrate the brand to Axol Bioscience, the firm said. Censo's CEO Tom Straford, PhD, will be appointed nonexecutive director of the combined board.
The transaction was accompanied by a fundraising round of $5.3 million, led by Calculus Capital and Par Equity. The investment will be used for growth and talent acquisition.
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