Debiopharm Group™ (Debiopharm) and Spinomix SA, a Swiss company advancing molecular diagnostic technologies, announced the closing of a Series A equity investment of $ 3 Million. The financing round was led by Debiopharm Group™.
Significant participation and support is being provided by existing investors and a private US investor group with proven entrepreneurial experience. Debiopharm is a successful drug development company based in Switzerland which is active in the field of molecular diagnostics and has completed several equity rounds in diagnostic start-ups.
Spinomix focuses on delivering high-quality-low-cost solutions for sample preparation of biological materials. The extraction and concentration of targeted cells and molecules (e.g. bacteria and DNA) under routine conditions, of adequate quality and at optimal cost are critical for their detection on existing and future in vitro diagnostic platforms. Spinomix's approaches use two proprietary technologies: MagPhase™, an automated sample preparation platform based on magnetic nanoparticles and microfluidics with cost efficient, rapidly processed and disposable cartridges. FibroTrap™, a fibrinogen based technology, to separate targeted cells and molecules within routine sample collection tubes.
"This successful financing round is an important step in the company structure and technologies development plan. The funds allow Spinomix to consolidate its development pipeline and to strengthen existing and new IVD industry collaborations. Through our technologies we will expand on the industry sample processing methods and ultimately we aim to establish new diagnostic standards. The scaling-up of our organisation also demanded an expansion of our senior management," says Lothar Wieczorek , Chairman of the board of directors.
Since Debiopharm was set up in 1979, the company and its founders have always focused on continuous innovation, while promoting entrepreneurship and the development of the Swiss high tech economy. Debiopharm believes that it is important to support entrepreneurs committed to innovation. "At a time where all healthcare players are expected to contribute to keeping healthcare cost under control, Debiopharm has been impressed by Spinomix MagPhase™ and FibroTrap™ platforms, their ease of use and huge potential for cost effective solutions," says Thierry Mauvernay, Delegate of the Board, who adds "Debiopharm is extremely happy to become part of this entrepreneurial project."