Revolutionising Biotech: Mytos Secures $19M Series A Funding for Automated Cell Manufacturing"

November 30, 2023

Author: Karan Bodh
Revolutionising Biotech: Mytos Secures $19M Series A Funding for Automated Cell Manufacturing"

Mytos, a London-based automated cell manufacturing company, has recently secured a substantial $19M in Series A funding. This funding round, led by Buckley Ventures with participation from IQ Capital and Wing VC, marks a significant milestone for the company, propelling its mission to revolutionise the field of biotechnology. With this injection of capital, Mytos aims to ramp up the manufacturing and distribution of its automated cell production system, catering to the escalating demand from biotech and pharmaceutical companies worldwide.

The core of Mytos' innovation lies in its groundbreaking approach to automating the intricate process of human cell production, a critical component in drug development. Founded in 2018, Mytos has identified and tackled a major bottleneck in biotech: the laborious manual production of human cells. This painstaking process not only consumes valuable time and resources but also introduces inconsistencies and contamination risks, hampering the pace of drug development.

Ali Afshar, CEO & Co-Founder of Mytos, highlights the pressing need for automation in biotech: "The most tedious process in biotech is growing human cells by hand. Every scientist needs to spend hours a day growing cells and coming in on weekends to look after them." Mytos' automated system offers a transformative solution, streamlining cell production through seamless integration of tasks such as imaging, passaging, and media replenishment into an automated workflow. This not only frees up scientists' time but also enhances the quality and yield of cells, ultimately accelerating the pace of research and development.

Wali Malik, Senior Director of Lab Automation at Tessera Therapeutics, lauds Mytos' approach, emphasising its simplicity and efficacy: "Mytos' unique approach to cell manufacturing is simple and easy to set up." By leveraging intricate fluidics, high-performance microscopy, and temperature control, Mytos ensures precise and efficient hands-free cell culture, empowering scientists to monitor their experiments remotely, even on weekends.

Moreover, Mytos' automated cell culture system boasts impressive versatility, capable of producing a wide range of cell types—from brain to heart cells—in a matter of weeks. Beginning with stem cells, the system can efficiently manufacture functional heart cells within a short timeframe. This capability holds immense promise for advancing research across various fields, from regenerative medicine to drug screening and beyond.

Jonathan Choi, Partner at Buckley Ventures, recognises Mytos' potential to catalyse a paradigm shift in the biotech industry: "Mytos is revolutionizing cell manufacturing, providing a simple solution that pharma and biotech companies can easily integrate into their research workflow." With plans to expand into cell therapy manufacturing, Mytos is poised to further solidify its position as a frontrunner in automated cell production, driving innovation and accelerating the development of life-saving therapies.

In conclusion, Mytos' recent Series A funding marks a significant milestone in the company's journey to transform the landscape of biotechnology. With its innovative automated cell production system, Mytos is poised to revolutionise the way human cells are grown and utilised in drug development, paving the way for groundbreaking advancements in healthcare and beyond.