Pharmaceuticals
Toxys raises €2 million in financing for global expansion of animal-free chemical safety tests
16th March 2020
Toxys, an innovative Dutch biotech company that develops unique animal-free laboratory tests for the safety assessment of novel medicines, chemicals, cosmetics and food, has received €2 million in funding from KIKK Capital, InnovationQuarter, Zeeland Investment fund, Toxys management and Rabobank. The investment is being made to advance Toxys’ ambition to become the global leading supplier of expert mechanistic in vitro chemical safety testing services. These services provide animal-free safety testing of novel medicines, chemicals and consumer products. The patented ToxTracker assay can identify toxic and carcinogenic properties of novel pharmaceuticals, agrochemicals and fine chemicals already at an early stage of drug/product development and can prevent the unnecessary rejections of highly valuable drug candidates and products, reduce drug/product development time lines and can prevent unnecessary animal testing.
ToxTracker has the ability to identify the mode of action of toxic compounds which significantly improves the ability to predict and reduce risks for human health and is currently under review by international authorities for official acceptance and inclusion of the test systems within the standard regulatory safety test strategy. Furthermore, with its soon-to-be launched novel ReproTracker test, Toxys aims to fill a large unmet need for an in vitro embryo toxicity test.