Wilmington, DE, USA — 18 October 2022 — Inventia Life Science, an Australian based biotechnology company, is pleased to announce the launch of its first US office and facility at The Innovation Space™, located at the Experimental Station in Wilmington, Delaware. The Innovation Space™ will service Inventia with premium, supported lab and office space with unparalleled access to business building services and growth partners.
Inventia specialises in building systems capable of creating realistic 3D human tissues for drug and therapy research applications. The 3D cell culture platform, RASTRUM™ has many diverse biomedical applications. For example, it can be of enormous benefit to the pharmaceutical industry, by allowing new drugs to be tested in a 3D cellular environment and eliminated, if necessary, long before they reach the stage of clinical trials.
One of the biggest challenges in drug discovery is that over 90% of drugs that look good in the lab fail in humans. By reducing the risk of drugs failing once they enter human clinical trials, pharmaceutical companies can save hundreds of millions of dollars to the total cost of bringing a successful drug to market. Similarly, researchers can now work at scale with cell models that mimic the human body almost exactly and produce research results that are more accurate and predictive than before.
Headquartered in Sydney, Australia, the new space will enable Inventia to closely support its customers based in North America as well as attract a highly skilled workforce. Inventia hired its first US employee, Dr. Dwayne Dexter as Director of Sales and Operations in the US, last year ahead of its USD $25million Series B fundraise. The funds have subsequently facilitated the launch of RASTRUM™ to the U.S. market.
Dr Julio Ribeiro, co-Founder and CEO commented, “Inventia’s unique 3D cell culture technology is the most advanced and precise 3D bioprinting of its kind in the world. Subsequently, we have seen a strong international demand from leading research institutes and top 10 global pharmaceutical companies for RASTRUM™ - four of which use RASTRUM™ for their drug discovery programs.”
“We were initially attracted to The Innovation Space™ because Delaware has a strong reputation for attracting engineers, chemists and other talented workers due to the DuPont Company and nearby world-leading universities. Furthermore, the State of Delaware and the Mid-Atlantic region has a rich life sciences ecosystem including many of the world’s largest life science companies.”
“The Innovation Space™ welcomes Inventia as a new growth client and we are already working collectively with the Inventia team to rapidly accelerate their global growth,” said William Provine, Ph.D, CEO of The Innovation Space™. “The Innovation Space™ is fully equipped with the facilities, expertise and networks to bolster the international capabilities of Inventia in order to enable them to build the value of their company and exceed customer expectations.”
About The Innovation Space (www.innovationspace.org):
The Innovation Space ™ is a not-for-profit innovation ecosystem and is a virtual and physical home for leading science entrepreneurs. The Innovation Space™ works to “transform science and technology startups into industry leading companies.” Located on the historic Experimental Station campus in Wilmington, Delaware, The Innovation Space™ is comprised of 130,000 ft2 of state of the art lab and office space with access to cutting edge equipment alongside a suite of entrepreneurship programs and opportunities supporting startup growth. Register for more information and updates to learn more about all The Innovation Space™ programs and funding opportunities.
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