Finnadvance

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.

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

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

• Microfluidic devices
• Drug discovery services
• High-throughput screening
• In-vitro research
• Organ-on-chip technology

Headquarters

HQ city

Oulu

HQ country

Finland

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. 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

Core 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.

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators1 record

Recent moves4 records

Expansion highlights3 records

Direct 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

• Xx.com/advance_finn
• LinkedInlinkedin.com/company/finnadvance

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Finnadvance