bit.bio, the global leader in cell programming technology, today announced the successful closing of a $30 million financing round led by M&G Investments, a leading international savings and investment company. Existing investors, including ARCH Venture Partners, BlueYard Capital, Milky Way, Puhua Capital, and Tencent, participated in the round.
M&G’s investment is through M&G’s Crossover strategy, a global initiative led by M&G’s public equity investment division to provide growth equity to high-quality, fast-growing private companies, enabling their transition from the private market to the public world. The continued backing of all of bit.bio’s previous lead investors underscores strong confidence in the company’s potential and strategic direction.
This funding will accelerate bit.bio’s transformation into the leading provider of human cells for research and drug discovery, furthering its mission to revolutionize tools for biomedical innovation. As part of this renewed focus, bit.
bio also strengthens its executive leadership team. Starting on 6 January 2025, Dr Jonathan Milner will take on the role of Interim CEO and join the Board of Directors. Dr Milner is a prominent entrepreneur and a key player in the UK life sciences and biotechnology sector.
He established Abcam, a leading provider of protein research tools, and scaled it into a multi-billion-dollar enterprise, which was acquired in 2023 for nearly $6 billion. He also initiated the Milner Therapeutics In.
