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Startup raises $36 million for alternative to lab animal testing

Photo by Kirill Kukhmar/TASS via Getty Images

Emulate, a Boston-based developer of "organs-on-chips," raised $36 million in new venture capital funding led by Peter Thiel's Founders Fund.

Why it's a big deal: Because this technology could reduce the large number of animals used each year in pharmaceutical lab testing, without sacrificing efficacy.