bit.bio has secured £19 million in Series D funding as demand for its human cell models surges, marking a key milestone in the company’s push to dominate a rapidly evolving sector of life sciences research. The Cambridge-based biotech, which specializes in producing consistent human cell models for drug discovery, reported a 76% increase in paid vial volumes this year, alongside a 34% rise in orders and a 40% growth in active customers—including a 63% jump in academic institutions ordering its products.
The funding round, led by existing investor M&G Investments and including Dr. Jonathan Milner, former CEO of Abcam, follows the company’s Series C earlier this year. The capital will accelerate bit.bio’s expansion of its cell portfolio and improve global accessibility for researchers. The company’s opti-ox platform allows for scalable, reproducible production of defined human cell types, addressing long-standing challenges like donor variability and supply constraints.
Dr. Emma Pepperell, CEO of bit.bio, framed the investment as a response to two major shifts in drug development: the acceleration of AI-driven discovery and the push to replace animal testing with human-relevant models. The company’s ioCells portfolio now covers over 50 cell types, including models of the heart, liver, and central nervous system, supporting applications in disease research, genomics, and toxicology.
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While demand for human cell models has grown sharply, the sector remains fragmented. Few companies can match bit.bio’s combination of proprietary technology, manufacturing scale, and a growing customer base. The investment shows confidence in its ability to fill a critical gap: as AI speeds up drug discovery, researchers need reliable, human-derived systems to validate candidates before clinical trials. Animal models, though widely used, often fail to predict human responses accurately, a problem bit.bio’s products aim to solve.
Cornel Chiriac, investment director at M&G Investments, noted that bit.bio aligns with the firm’s strategy of backing businesses transitioning to commercial growth. Milner, whose career includes building Abcam into a global life sciences tool provider, compared bit.bio’s opportunity to that of earlier companies that became indispensable to researchers.
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