# StemoniX

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/stemonix

- Industry: Biotechnology
- Headquarters: Maple Grove, US
- Website: www.stemonix.com
- Total disclosed funding: $17M
- Latest round: Series B (Feb 28, 2019)
- Investors on record: 6

## About

StemoniX, Inc. is an innovative biotechnology company specializing in advanced cellular technologies to enhance drug discovery and regenerative medicine processes.StemoniX, Inc. was founded in 2014 in Maple Grove, US, and focuses on developing cellular technologies for pharmaceutical research. The company is led by CEO Ping Yeh, who has a background in biotechnology. In May 2020, StemoniX raised USD 0.100 mn in a funding round to support its operations and development efforts.StemoniX specializes in advanced cellular technologies that focus on developing innovative solutions for drug discovery and regenerative medicine. The company’s main product offerings include their proprietary organoid models and stem cell-derived tissues, which are designed to simulate human biology for research purposes. These products serve a critical function by providing a more accurate platform for pharmaceutical companies and research institutions to test drug efficacy and safety, thereby addressing the limitations of traditional animal models. Their products have been utilized in various end-use cases, including the evaluation of potential therapeutic compounds and the study of disease mechanisms. StemoniX has established a diverse client base that includes biotech firms and academic research organizations predominantly in North America and Europe, enabling them to make significant advancements in personalized medicine and therapeutic development.StemoniX generates revenue primarily through direct sales of their organoid models and stem cell-derived products to research institutions and pharmaceutical companies. The structure of their transactions typically involves B2B sales agreements, where clients purchase specific products to be used in their laboratory settings. Pricing plans are strategically designed to cater to the varied needs of their clientele, reflecting the complexity and specificity of the products offered. Flagship products, central to their revenue model, include proprietary organoid systems that allow researchers to conduct highly relevant studies in vitro. The revenue stream is bolstered by ongoing partnerships with key industry players, who rely on StemoniX's innovations to enhance their research capabilities and accelerate drug development processes.StemoniX is focused on expanding its product offerings with new organoid models aimed at enhancing research in personalized medicine, with expected launches in the next year. The company plans to penetrate European markets more deeply by 2022, leveraging its existing client relationships. The recent funding of USD 0.100 mn raised in May 2020 will be utilized to support these new product developments and market expansion initiatives.

## Funding rounds

- Series B, Feb 28, 2019, $14M — Mayo Clinic Ventures, Brightstone Venture Capital, Crescent Ridge, Alumni Ventures Group, Keshif Ventures, Seed San Diego
- Seed, Sep 30, 2016, $2.5M — Brightstone Venture Capital

## Investors

- Brightstone Venture Capital (https://capitalatlas.ai/funds/brightstone-venture-capital) — Seed, Series B
- Mayo Clinic Ventures (https://capitalatlas.ai/funds/mayo-clinic-ventures) — Series B
- Crescent Ridge (https://capitalatlas.ai/funds/crescent-ridge) — Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B
- Keshif Ventures (https://capitalatlas.ai/funds/keshif-ventures) — Series B
- Seed San Diego (https://capitalatlas.ai/funds/seed-san-diego) — Series B