January 27, 2021
Droplet Genomics, a Lithuanian biotech startup, has today announced that it has raised a total of €1M in a Seed funding round led by Practica Capital, with contribution from Angel investors.
Droplet Genomics is a Lithuanian biotech startup that aims to commercialize droplet microfluidics technology. Owing to its unparalleled throughput, droplet microfluidics enables researchers to study single cells and single molecules. Experiments performed at such resolution, allow scientists to uncover new facets of human biology, diseases and speed up drug discovery research. Droplet Genomics develops hardware systems, consumables and software solutions. They intend to create easy to use workflows that would enable researchers to tap into the potential of droplet microfluidics technology for studying complex biological systems, as well as high-throughput screening applications.
“When observing scientific advances one can clearly see the trend of microfluidic technologies penetrating more and more areas of research. With the help of these technologies, a map of human cells and diseases is currently being developed, the response of immune cells to covid-19 infection is being investigated, and therapeutic antibodies against various diseases are being discovered, just to name a few. Overall, microfluidic technology has made it possible to perform complex biomedical tests, or molecular biology and biochemical reactions, faster, cheaper and with increased sensitivity as compared to traditional methods where reactions are performed in tubes or plates. It is therefore clear that in the future, the importance and applicability of products based on microfluidic technologies will only increase in various fields,” said co-founder prof. Linas Mažutis (PhD).
This investment will enable Droplet Genomics to expand its intellectual property portfolio and accelerate the commercialization of new products. The startup is actively developing novel products and plans to release an integrated system for high-throughput screening applications in Q1 2021. This new addition to the product portfolio will complement an already existing integrated system for droplet microfluidics research. Droplet Genomics main clients are universities, research institutes and biotechnology companies located in Europe and USA.
According to Droplet Genomics CEO and co-founder Juozas Nainys (PhD), the main two reasons behind the decision to work with Practica Capital are their many years of experience in investing in early-stage startups and the results achieved-to-date with other companies.
“We are pleased with this new partnership with Practica Capital, whose insights and knowledge, especially in business development, have already helped Droplet Genomics to accelerate its growth and be more effective,“ said Juozas Nainys.
"The long-term vision of the team is very ambitious, aiming to enable personalized medicine. These are global challenges. We know that it will take a longer time for Droplet Genomics to achieve its goals. Thus our challenge is not only to stay patient but also to help make those first steps, attract additional expertise and work with regional and global venture capital partners today, to ensure timely and sufficient financing in the future. We appreciate the trust of Juozas, Linas and the rest of the team in us and the partnership achieved," said Donatas Keras, Partner at Practica Capital.