Finnadvance
Finnadvance is a Finnish biotechnology company developing microfluidic devices for in-vitro microvascular network generation, offering high-throughput drug research and development services to biotech, nanomaterials, and cosmetics companies. Founded in 2019 and based in Oulu, Finland.
- Company typePrivate
- Founded2019
- HeadquartersOulu, Finland
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Finnadvance does
Finnadvance is a Finnish biotechnology company founded in 2019 and headquartered in Oulu, Finland. The company has developed microfluidic devices for in-vitro microvascular network generation, leveraging organ-on-chip and microphysiological system technology to deliver high-throughput drug research and development services. Its primary customers are biotechnology firms requiring accelerated drug discovery and screening workflows, with secondary applications in nanomaterials and cosmetics research and development.
The company's core offering combines microfluidic engineering with biological vascular models to enable more physiologically relevant in-vitro testing than conventional assays. Finnadvance operates a sales-led go-to-market motion and is actively scaling its team to drive commercialization of its R&D service platform. Revenue is generated through research and development service contracts, described as subscription/recurring in nature, with biotech as the primary vertical and nanomaterials and cosmetics as adjacent markets. No public pricing, customer logos, patents, or awards are disclosed in the available data.
Finnadvance has raised approximately €1.9 million in disclosed funding across two rounds: an earlier ~$598,260 round in April 2020 led by Voima Ventures with Icebreaker.vc, and a €1.2 million seed round in April 2022 led by Athensmed with participation from Voima Ventures, Icebreaker VC, and Takoa Invest. The company is led by founder and CEO Prateek Singh. With 11-50 employees, Finnadvance remains at an early commercialization stage with no disclosed revenue, recognized customer base, or subsequent funding rounds in the provided data.
Finnadvance firmographics
Firmographics- Name
- Finnadvance
- Website
- https://finnadvance.fi
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Finnadvance is a Finnish biotechnology company developing microfluidic devices for in-vitro microvascular network generation, offering high-throughput drug research and development services to biotech, nanomaterials, and cosmetics companies. Founded in 2019 and based in Oulu, Finland.
- Ownership category
- akta.pro rank
Finnadvance industry classification
Industry- Product category
- Drug Discovery R&D Services
- NAICS
- Research and Development in Biotechnology (except Nanobiotechnology) (541714), Scientific Research and Development Services (5417), Analytical Laboratory Instrument Manufacturing (334516)
- SIC
- Services-Commercial Physical & Biological Research (8731), Laboratory Analytical Instruments (3826)
- akta.pro primary industry
- In Vitro Model Systems & Organoid Platforms (iPSC/organoids, microphysiological systems) (HLAAAIAJ)
- akta.pro secondary industry
- In Vivo Discovery & Translational Models Platforms (humanized models, PK/PD, efficacy) (HLAAAIAK)
Keywords
Where Finnadvance is headquartered
LocationHeadquarters
- HQ city
- Oulu
- HQ country
- Finland
- HQ region
- Europe
Markets served
Finnadvance business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Drug Research and Development Services: Providing high-throughput R&D services to biotech, nanomaterials, and cosmetics companies. Revenue likely derived from service contracts and research partnerships.
Go-to-market motion1 record
Finnadvance product offering
Product offeringCore offering
Finnadvance provides high-throughput drug research and development services, leveraging proprietary microfluidic device technology to enable in-vitro microvascular network generation. The company automates screening and synthesis processes to accelerate early-stage drug discovery, with applications spanning biotechnology, nanomaterials, and cosmetics sectors.
Product overview
Finnadvance offers a single unified service focused on high-throughput drug research and development. The company's core offering centers on automated screening technologies for early-stage drug discovery, with expanding applications across biotech, nanomaterials, and cosmetics sectors.
Differentiator
Problem solved
Functional benefit
Products and services
- High-Throughput Drug Research and Development Services High-throughput drug research and development services targeting biotech, nanomaterials, and cosmetics applications. The service leverages automated screening and synthesis platforms along with proprietary microfluidic device technology to accelerate early-stage drug discovery for B2B clients.
- Microfluidic Devices for In-Vitro Microvascular Network Generation Proprietary microfluidic devices developed by Finnadvance that enable in-vitro microvascular network generation. These devices serve as the technological foundation for the company's high-throughput drug R&D services and support advanced research applications in biotech, nanomaterials, and cosmetics sectors.
Companies that use Finnadvance
Customer profileSegments3 records
Ideal customer profiles3 records
Finnadvance technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Finnadvance partnerships and signals
Strategic signalScale indicators1 record
Recent moves4 records
Expansion highlights3 records
Finnadvance competitors and assessment
Company assessmentDirect peers
- Emulate: Emulate is a leading organ-on-chip platform company developing microphysiological systems (Liver-Chip, etc.) for drug discovery and safety testing. It is a direct peer because it sells microfluidic in-vitro tissue models and high-throughput screening services to the same biotech and pharma R&D buyers that Finnadvance targets.
- Mimetas: Mimetas develops organ-on-a-chip and microfluidic 3D tissue models (OrganoPlate) used in high-throughput drug screening and toxicology. It directly competes with Finnadvance in microfluidic microvascular and tissue model services for pharma and biotech R&D customers.
- CN Bio Innovations: CN Bio provides organ-on-chip and microphysiological platform services (PhysioMimix) for drug discovery and disease modeling. Comparable to Finnadvance due to overlapping microfluidic in-vitro model services and pharma-targeted commercial motion.
- TissUse: TissUse builds multi-organ-on-chip systems for toxicology and drug efficacy testing. Closely comparable to Finnadvance because both deliver microphysiological, microfluidic platforms for preclinical R&D services across pharmaceutical and cosmetics applications.
- InSphero: InSphero provides 3D microtissue and organoid-based assays for drug discovery and safety assessment. Comparable to Finnadvance as a high-throughput in-vitro model service provider to pharma, biotech, and cosmetics customers.
- Hesperos: Hesperos develops multi-organ microphysiological systems ("human-on-a-chip") used in drug testing and toxicity studies. Directly comparable to Finnadvance's microvascular microfluidic service business for preclinical research customers.
Emerging players
- SynVivo: SynVivo offers microfluidic chip-based vascular and tissue models for drug delivery and transport studies. Comparable as a microfluidic in-vitro vascular model peer to Finnadvance but with narrower scope.
- Nortis Bio: Nortis Bio develops microphysiological systems for kidney, vascular, and other organ models. Comparable to Finnadvance in microfluidic in-vitro tissue services, though smaller and more niche in commercial traction.
Broad incumbents
- Organovo: Organovo applies 3D bioprinting and tissue engineering to drug discovery and therapeutic applications. Broad incumbent in 3D human tissue models with overlapping customer base in pharma R&D, though not purely microfluidic.
Others
- Fluigent: Fluigent manufactures microfluidic flow-control instrumentation used in cell biology and organ-on-chip research. Adjacent to Finnadvance as a supplier/enabler for microfluidic in-vitro experiments rather than a direct service competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Finnadvance social profiles
Digital presenceFinnadvance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Finnadvance leadership team
Management profileNumber of profiles
Profiles1 record
Finnadvance funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Finnadvance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Finnadvance
What does Finnadvance do?
Finnadvance provides high-throughput drug research and development services, leveraging proprietary microfluidic device technology to enable in-vitro microvascular network generation. The company automates screening and synthesis processes to accelerate early-stage drug discovery, with applications spanning biotechnology, nanomaterials, and cosmetics sectors.
Is Finnadvance a public or private company?
Finnadvance is a private company. It is classified as venture growth investor backed and is currently operating.
When was Finnadvance founded?
Finnadvance was founded in 2019. It employs 11 to 50 people.
Where is Finnadvance based?
Finnadvance is headquartered in Oulu, Finland, in the Europe region.
How does Finnadvance make money?
One revenue line is on record: drug Research and Development Services.
Who are Finnadvance's main competitors?
Direct peers on record are Emulate, Mimetas, CN Bio Innovations, TissUse, InSphero and Hesperos. Emerging players are SynVivo and Nortis Bio. Organovo is listed as a broad incumbent. Fluigent is listed as an others.
Does Finnadvance have an API?
No public API is recorded for Finnadvance.
What industry is Finnadvance in?
Finnadvance's product category is Drug Discovery R&D Services. Its primary akta.pro industry code is HLAAAIAJ, In Vitro Model Systems & Organoid Platforms (iPSC/organoids, microphysiological systems), with a secondary code of HLAAAIAK, In Vivo Discovery & Translational Models Platforms (humanized models, PK/PD, efficacy). Its NAICS code is 541714 and its SIC code is 8731.