AxoSim, Inc., a company involved in the development and application of human biomimetic platforms for neurological diseases, and Vyant Bio, Inc., a biotechnology company, entered into a definitive agreement under which AxoSim will acquire the microBrain-associated assets of Vyant Bio’s StemoniX subsidiary. Effective immediately, AxoSim will have exclusive and sole distribution rights to market the StemoniX microBrain technology platform to pharmaceutical and biotechnology customers.

AxoSim will pay $2.25 million, of which $1.1 million will be paid at closing, and the remainder based on milestones and the release from escrow pursuant to the agreement.

The StemoniX microBrain and AxoSim NerveSim and BrainSim platforms use human induced pluripotent stem cells (iPSCs) to develop live in vitro models of human brain and nerve structures, also known as organoids. These biomimetic organoids deliver human data faster and more efficiently, enabling the selection of safer, more efficacious drug candidates to improve clinical translation and success. According to the company, the StemoniX microBrain technology is a highly scalable iPSC-derived high-throughput neural screening platform coupled with advanced bioanalytical software for phenotypic drug discovery. 

“We believe that AxoSim is the perfect partner for our StemoniX microBrain technology,” said Andrew LaFrence, President, CEO and CFO of Vyant Bio. “AxoSim shares our commitment to applying advanced biomimetic technology to transform neurological drug discovery and development. We also share a track record of scientific innovation and leadership in this rapidly evolving field. We see this combination as the best available option for StemoniX and for our stakeholder community.”

Lowry Curley, co-founder, and CEO of AxoSim, said, “Neurological diseases such as ALS, Parkinson’s disease, neuropathic pain and rare epilepsies afflict millions yet lack effective therapies. At AxoSim, we are mission-driven to develop human biomimetic models with the potential to jumpstart the discovery and development of breakthrough therapies by enabling drug developers to obtain relevant human data early in the R&D process, reducing the time and cost of drug discovery and increasing the probabilities of success. We are excited at the opportunity to combine our NerveSim and BrainSim platforms with the StemoniX microBrain technology, along with their expert staff and state-of-the-art R&D and manufacturing facility in Minnesota. We see these platforms as highly complementary and synergistic, giving us the opportunity to create a category-leading powerhouse in the field.”