Corporate Banner
Satellite Banner
Genomics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

ProteoMediX Raises CHF 3.2M (€2.6M) in Financing

Published: Wednesday, April 09, 2014
Last Updated: Wednesday, April 09, 2014
Bookmark and Share
The Company has announced the successful closing of a Series B equity financing round from existing and new investors.

The round was led by Altos Venture (Allschwil, Switzerland), a Swiss venture capital firm chaired by Dr. Walter Fischli (co-founder of Actelion), that is investing in carefully selected hightech start-ups. All existing investors also participated in this round, including Zürcher Kantonalbank and several private investors experienced in life science investments.

The new funds will enable ProteoMediX to continue the development of its lead product for the early diagnosis of prostate cancer. The test is intended as an aid in the detection of prostate cancer, i.e. to inform men with elevated PSA (prostate specific antigen) and or suspicious DRE (digital rectal examination), about the likelihood of having a positive biopsy. The goal is to significantly reduce unnecessary prostate biopsies (today, 3 out of 4 biopsies are negative).

ProteoMediX achieved significant milestones in the past two years. The test format was changed from mass spectrometry to immunoassay in order to be compatible with today’s standard technology platform in diagnostic laboratories. In a recent pilot study, the successful platform change was confirmed and the promising results showed that ProteoMediX’ test has the potential to reduce significantly more than 50% of negative prostate biopsies.

Dr. Ralph Schiess, CEO and co-founder commented: “We are delighted to have received this strong support from investors. The funds will enable us to further advance our test for the reduction of unnecessary biopsies by gathering additional data from clinical studies”. “We are pleased that we attracted new investors and that all existing investors participated in this financing round. This is a strong validation of our company and recognizes the progress we made.”, said Christian Brühlmann, CFO and co-founder of ProteoMediX.
 


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More than 3,800+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
Poor Survival Rates in Leukemia Linked to Persistent Genetic Mutations
For patients with an often-deadly form of leukemia, new research suggests that lingering cancer-related mutations – detected after initial treatment with chemotherapy – are associated with an increased risk of relapse and poor survival.
Searching Big Data Faster
Theoretical analysis could expand applications of accelerated searching in biology, other fields.
Growing Hepatitis C in the Lab
Recent discovery allows study of naturally occurring forms of hepatitis C virus (HCV) in the lab.
Inciting an Immune Attack on Cancer Cells
A new minimally invasive vaccine that combines cancer cells and immune-enhancing factors could be used clinically to launch a destructive attack on tumors.
Reprogramming Cancer Cells
Researchers on Mayo Clinic’s Florida campus have discovered a way to potentially reprogram cancer cells back to normalcy.
Genetic Overlapping in Multiple Autoimmune Diseases May Suggest Common Therapies
CHOP genomics expert leads analysis of genetic architecture, with eye on repurposing existing drugs.
Surprising Mechanism Behind Antibiotic-Resistant Bacteria Uncovered
Now, scientists at TSRI have discovered that the important human pathogen Staphylococcus aureus, develops resistance to this drug by “switching on” a previously uncharacterized set of genes.
How DNA ‘Proofreader’ Proteins Pick and Edit Their Reading Material
Researchers from North Carolina State University and the University of North Carolina at Chapel Hill have discovered how two important proofreader proteins know where to look for errors during DNA replication and how they work together to signal the body’s repair mechanism.
Fat in the Family?
Study could lead to therapeutics that boost metabolism.
Tissue Bank Pays Dividends for Brain Cancer Research
Checking what’s in the bank – the Brisbane Breast Bank, that is – has paid dividends for UQ cancer researchers.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!